Thrivent Financial for Lutherans decreased its holdings in shares of BankUnited, Inc. (NYSE:BKU – Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,980 shares of the financial services provider’s stock after selling 1,692 shares during the period. Thrivent Financial for Lutherans’ holdings in BankUnited were worth $2,295,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in BankUnited by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock worth $265,542,000 after acquiring an additional 280,993 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in BankUnited by 3.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 76,760 shares of the financial services provider’s stock worth $2,147,000 after acquiring an additional 2,899 shares in the last quarter. CWM LLC boosted its holdings in BankUnited by 307.6% in the second 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 in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in BankUnited by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 58,053 shares of the financial services provider’s stock worth $1,699,000 after acquiring an additional 938 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in BankUnited by 8.2% in the second quarter. Assenagon Asset Management S.A. now owns 632,632 shares of the financial services provider’s stock worth $18,517,000 after acquiring an additional 48,059 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Wedbush increased their price objective on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 price target on shares of BankUnited in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday. Barclays increased their price target on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $48.00 in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.70.
Insider Transactions at BankUnited
In related news, insider Jay D. Richards sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the transaction, the insider now owns 34,687 shares in the company, valued at $1,428,410.66. The trade was a 6.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas M. Cornish sold 10,778 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the transaction, the chief operating officer now owns 100,000 shares in the company, valued at approximately $3,911,000. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.19% of the company’s stock.
BankUnited Price Performance
BankUnited stock opened at $42.36 on Thursday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 17.36 and a beta of 1.33. BankUnited, Inc. has a one year low of $24.34 and a one year high of $44.45. The business has a fifty day moving average price of $37.37 and a 200-day moving average price of $34.34. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88.
BankUnited (NYSE:BKU – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. The company had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. During the same quarter last year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that BankUnited, Inc. will post 2.89 EPS for the current year.
BankUnited Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio (DPR) is currently 47.54%.
BankUnited Profile
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.
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