State Street Corp Sells 117,318 Shares of BankUnited, Inc. (NYSE:BKU)

State Street Corp reduced its position in BankUnited, Inc. (NYSE:BKU) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,400,949 shares of the financial services provider’s stock after selling 117,318 shares during the period. State Street Corp owned 0.06% of BankUnited worth $160,371,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BKU. Millennium Management LLC boosted its holdings in shares of BankUnited by 49.2% in the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock valued at $65,778,000 after buying an additional 740,896 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after buying an additional 559,720 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new stake in BankUnited in the 3rd quarter worth approximately $17,745,000. Point72 Asset Management L.P. boosted its stake in BankUnited by 741.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock worth $11,628,000 after purchasing an additional 350,071 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in BankUnited by 3,658.4% in the 2nd quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock worth $9,537,000 after purchasing an additional 317,143 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wedbush lifted their target price on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their target price on shares of BankUnited from $36.00 to $42.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upgraded shares of BankUnited from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $48.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price on shares of BankUnited from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, BankUnited currently has a consensus rating of “Hold” and a consensus price target of $41.45.

BankUnited Stock Performance

BKU opened at $40.55 on Friday. BankUnited, Inc. has a 12-month low of $24.34 and a 12-month high of $44.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $3.03 billion, a PE ratio of 16.62 and a beta of 1.36. The firm has a 50 day moving average of $38.80 and a two-hundred day moving average of $35.38.

BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The firm had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same period in the previous year, the firm earned $0.63 EPS. On average, analysts anticipate that BankUnited, Inc. will post 2.89 EPS for the current year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio (DPR) is 47.54%.

Insider Activity

In related news, insider Jay D. Richards sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total value of $102,950.00. Following the completion of the sale, the insider now owns 34,687 shares of the company’s stock, valued at approximately $1,428,410.66. The trade was a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas M. Cornish sold 10,778 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $39.11, for a total transaction of $421,527.58. Following the completion of the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at approximately $3,911,000. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.

About BankUnited

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.