State of Alaska Department of Revenue Reduces Position in BankUnited, Inc. (NYSE:BKU)

State of Alaska Department of Revenue decreased its position in BankUnited, Inc. (NYSE:BKU) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,659 shares of the financial services provider’s stock after selling 1,233 shares during the period. State of Alaska Department of Revenue’s holdings in BankUnited were worth $1,554,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BKU. CWM LLC grew its holdings in BankUnited by 307.6% in the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,455 shares during the last quarter. Headlands Technologies LLC purchased a new position in BankUnited during the 1st quarter valued at about $57,000. Meeder Asset Management Inc. purchased a new position in BankUnited during the 2nd quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in BankUnited during the 2nd quarter valued at approximately $169,000. Finally, GAMMA Investing LLC lifted its holdings in BankUnited by 17.4% in the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after buying an additional 686 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKU has been the subject of a number of recent analyst reports. Hovde Group upped their target price on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Wedbush upped their price objective on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company lifted their target price on shares of BankUnited from $35.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.00 price target on shares of BankUnited in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price objective on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.40.

BankUnited Price Performance

Shares of BKU opened at $35.40 on Friday. The firm’s 50-day simple moving average is $36.27 and its two-hundred day simple moving average is $32.75. BankUnited, Inc. has a fifty-two week low of $22.16 and a fifty-two week high of $39.51. The stock has a market cap of $2.65 billion, a PE ratio of 14.51 and a beta of 1.33. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.87 and a current ratio of 0.88.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter last year, the company earned $0.63 EPS. Analysts anticipate that BankUnited, Inc. will post 2.85 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.28%. BankUnited’s payout ratio is presently 47.54%.

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.