BankUnited, Inc. (NYSE:BKU) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its holdings in BankUnited, Inc. (NYSE:BKU) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,561 shares of the financial services provider’s stock after selling 16,056 shares during the quarter. Citigroup Inc. owned approximately 0.24% of BankUnited worth $6,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Intech Investment Management LLC increased its stake in BankUnited by 70.0% in the third quarter. Intech Investment Management LLC now owns 29,879 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 12,301 shares during the period. Pathstone Holdings LLC grew its holdings in shares of BankUnited by 18.2% during the third quarter. Pathstone Holdings LLC now owns 58,619 shares of the financial services provider’s stock worth $2,136,000 after buying an additional 9,010 shares during the last quarter. LMR Partners LLP acquired a new position in BankUnited in the 3rd quarter valued at about $557,000. Quest Partners LLC purchased a new stake in BankUnited during the 3rd quarter valued at approximately $825,000. Finally, Aigen Investment Management LP purchased a new position in shares of BankUnited in the 3rd quarter valued at approximately $257,000. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Insider Transactions at BankUnited

In other news, COO Thomas M. Cornish sold 10,778 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the transaction, the chief operating officer now owns 100,000 shares of the company’s stock, valued at $3,911,000. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay D. Richards sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the sale, the insider now owns 34,687 shares in the company, 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. Insiders own 1.19% of the company’s stock.

BankUnited Trading Down 0.7 %

Shares of BKU stock opened at $42.07 on Friday. BankUnited, Inc. has a fifty-two week low of $24.34 and a fifty-two week high of $44.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $37.68 and a 200-day simple moving average of $34.55. The stock has a market cap of $3.14 billion, a P/E ratio of 17.24 and a beta of 1.33.

BankUnited (NYSE:BKU) last announced its quarterly earnings results 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 net margin of 9.06% and a return on equity of 8.09%. The company had revenue of $515.24 million for the quarter, compared to the consensus estimate of $258.65 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, analysts forecast that BankUnited, Inc. will post 2.89 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. Shareholders of record on Friday, October 11th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, October 11th. BankUnited’s payout ratio is 47.54%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BKU. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 price target on shares of BankUnited in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. The Goldman Sachs Group raised their price objective on shares of BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday, November 26th. Citigroup dropped their target price on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.70.

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.