The stock of BankUnited, Inc. (NYSE:BKU) is now priced at $20.14 and the shares are -0.52 points down or -2.52% lower compared to its previous closing price of $20.66. BKU shares have a float of 91.66 million and although its performance was 7.47% over the week, it’s one to watch. Analysts have given the BKU stock a yearly average price target of $23.31 per share. It means the stock’s upside potential is 15.74% with the BKU share price recently placing at $19.61 to $20.495. However, some brokerage firms have priced the stock below the average, including one that has called $16.
The shorts are running away from the BankUnited, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the BKU shares have declined. Short interest in the stock represents just 2.57% of its float, but the volume has dropped by 0.
In the last trading session, BankUnited, Inc. (NYSE:BKU) raised by $1.4 over the week and gained $1.53 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $37.6. The stock recorded its established 52-week high on 12/20/19.
Since 05/14/20, the stock has traded to a low of $13.47 at 49.52%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.25. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, BankUnited, Inc.’s two-week RSI is 56.26. This suggests that the stock is neutral at the moment and that BKU shares’ price movement remains stable. The stochastic readings are equally revealing at 87.94% meaning the BKU share price is currently in oversold territory.
The technical chart shows that the BKU stock will likely settle at between $20.55 and $20.97 per share. However, if the stock dips below $19.67, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.2.
Currently, the stock is trading in the green of MACD, with a reading of 1.27. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Piper Sandler raised their recommendation for BKU from Neutral to Overweight in July 30 review while maintain their target price of $22 to $27. UBS analysts upgraded their recommendation of the stock from Neutral to Buy while keeping its target price at $16 to $22 in a flash note released to investors on June 29. BofA/Merrill seeing the improvements upgraded the stock from Neutral to Buy on June 08.
The average rating for the BKU equity is 2.56 and is currently gathering a bullish momentum. Of 16 analysts tracking BankUnited, Inc. polled by Reuters, 7 rated BKU as a hold. The remaining 9 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BKU stock price is 8.89X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 9.6 below the group’s average of 12.6. BankUnited, Inc. has its P/E ratio at 0.7, which means that the stock is currently trading at a discount relative to the 0.9 industry average.