Public Employees Retirement Association of Colorado Sells 1,449 Shares of BankUnited, Inc. (NYSE:BKU)

Public Employees Retirement Association of Colorado cut its stake in BankUnited, Inc. (NYSE:BKU) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,444 shares of the financial services provider’s stock after selling 1,449 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in BankUnited were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC grew its holdings in BankUnited by 307.6% during the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after buying an additional 1,455 shares in the last quarter. Headlands Technologies LLC purchased a new position in BankUnited during the first quarter valued at approximately $57,000. Meeder Asset Management Inc. bought a new stake in BankUnited during the 2nd quarter worth approximately $74,000. Picton Mahoney Asset Management purchased a new stake in BankUnited in the 2nd quarter worth approximately $175,000. Finally, Neo Ivy Capital Management bought a new position in BankUnited in the 4th quarter valued at $238,000. 99.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BKU has been the topic of a number of recent analyst reports. Citigroup lowered their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Wedbush raised their price target on BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Hovde Group lifted their price target on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Barclays upped their price objective on shares of BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and an average price target of $35.50.

BankUnited Stock Down 0.4 %

Shares of NYSE BKU opened at $35.56 on Friday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 15.33 and a beta of 1.33. BankUnited, Inc. has a one year low of $20.84 and a one year high of $39.51. The firm’s 50 day simple moving average is $36.62 and its two-hundred day simple moving average is $31.23. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.87 and a quick ratio of 0.87.

BankUnited (NYSE:BKU) last released its earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 EPS. As a group, analysts expect that BankUnited, Inc. will post 2.88 EPS for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.26%. BankUnited’s dividend payout ratio is currently 50.00%.

Insider Activity

In related news, Director William S. Rubenstein sold 7,864 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the transaction, the director now directly owns 10,282 shares in the company, valued at approximately $396,576.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the transaction, the insider now owns 37,187 shares in the company, valued at $1,361,416.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the sale, the director now owns 10,282 shares of the company’s stock, valued at $396,576.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,507 shares of company stock valued at $802,400. 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.