Charles Schwab Investment Management Inc. Sells 20,721 Shares of BankUnited, Inc. (NYSE:BKU)

Charles Schwab Investment Management Inc. reduced its stake in shares of BankUnited, Inc. (NYSE:BKU) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 1,640,410 shares of the financial services provider’s stock after selling 20,721 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in BankUnited were worth $59,777,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BKU. CWM LLC boosted its stake in shares of 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 purchasing an additional 1,455 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in BankUnited during the 2nd quarter valued at approximately $74,000. GAMMA Investing LLC grew its holdings in shares of BankUnited by 17.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 686 shares during the period. SG Americas Securities LLC bought a new position in shares of BankUnited in the 3rd quarter worth approximately $181,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BankUnited in the 2nd quarter valued at approximately $169,000. 99.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BKU shares. Citigroup reduced their price target on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wedbush upped their target price on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Royal Bank of Canada reissued 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 upped their price objective on shares of BankUnited from $36.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded shares of BankUnited from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.70.

Insider Transactions at BankUnited

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

BankUnited Stock Down 0.7 %

BKU opened at $42.07 on Friday. BankUnited, Inc. has a 1-year low of $24.34 and a 1-year high of $44.45. The firm’s 50 day simple moving average is $37.57 and its two-hundred day simple moving average is $34.45. 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 company has a market capitalization of $3.14 billion, a PE ratio of 17.24 and a beta of 1.33.

BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $258.65 million. During the same period last year, the firm earned $0.63 EPS. As a group, equities analysts forecast that BankUnited, Inc. will post 2.89 EPS for the current year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio is currently 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.