Vestcor Inc Buys 9,766 Shares of BankUnited, Inc. (NYSE:BKU)

Vestcor Inc grew its stake in shares of BankUnited, Inc. (NYSE:BKU) by 127.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,416 shares of the financial services provider’s stock after purchasing an additional 9,766 shares during the period. Vestcor Inc’s holdings in BankUnited were worth $665,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BKU. Basswood Capital Management L.L.C. bought a new stake in BankUnited during the third quarter worth about $17,745,000. Wellington Management Group LLP bought a new stake in BankUnited during the third quarter worth about $5,302,000. Jane Street Group LLC boosted its stake in BankUnited by 194.1% during the third quarter. Jane Street Group LLC now owns 193,062 shares of the financial services provider’s stock worth $7,035,000 after acquiring an additional 127,415 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in BankUnited during the fourth quarter worth about $3,668,000. Finally, FMR LLC boosted its stake in BankUnited by 40.0% during the third quarter. FMR LLC now owns 275,556 shares of the financial services provider’s stock worth $10,041,000 after acquiring an additional 78,753 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BKU shares. The Goldman Sachs Group boosted their price objective 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. Royal Bank of Canada upped their target price on shares of BankUnited from $42.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of BankUnited from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Barclays dropped their target price on shares of BankUnited from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Finally, Piper Sandler upgraded shares of BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 target price on the stock in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, BankUnited currently has a consensus rating of “Hold” and a consensus price target of $43.18.

Insider Buying and Selling at BankUnited

In other BankUnited news, insider Kevin A. Malcolm sold 3,234 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total transaction of $113,772.12. Following the completion of the sale, the insider now directly owns 12,250 shares of the company’s stock, valued at approximately $430,955. This represents a 20.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sanjiv Sobti bought 2,000 shares of BankUnited stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $32.07 per share, with a total value of $64,140.00. Following the completion of the acquisition, the director now owns 20,782 shares of the company’s stock, valued at $666,478.74. The trade was a 10.65 % increase in their position. The disclosure for this purchase can be found here. 1.19% of the stock is owned by corporate insiders.

BankUnited Stock Up 4.5 %

BKU opened at $34.46 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average price of $38.43 and a 200-day moving average price of $38.17. BankUnited, Inc. has a twelve month low of $24.34 and a twelve month high of $44.45. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 11.19 and a beta of 1.40.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities research analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, January 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.37%. BankUnited’s dividend payout ratio is currently 37.66%.

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.