CIBC Asset Management Inc Lowers Stock Holdings in BankUnited, Inc. (NYSE:BKU)

CIBC Asset Management Inc lowered its holdings in BankUnited, Inc. (NYSE:BKU) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,275 shares of the financial services provider’s stock after selling 335 shares during the period. CIBC Asset Management Inc’s holdings in BankUnited were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKU. Natixis Advisors LLC grew its position in BankUnited by 1.0% during the second quarter. Natixis Advisors LLC now owns 48,005 shares of the financial services provider’s stock valued at $1,405,000 after acquiring an additional 497 shares during the period. Louisiana State Employees Retirement System grew its position in BankUnited by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 800 shares during the period. Inspire Investing LLC boosted its position in shares of BankUnited by 6.8% in the first quarter. Inspire Investing LLC now owns 12,632 shares of the financial services provider’s stock worth $354,000 after buying an additional 807 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of BankUnited by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 65,090 shares of the financial services provider’s stock worth $1,823,000 after buying an additional 896 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of BankUnited by 0.8% in the first quarter. Russell Investments Group Ltd. now owns 112,849 shares of the financial services provider’s stock worth $3,160,000 after buying an additional 906 shares during the period. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Stock Up 1.0 %

NYSE:BKU opened at $36.17 on Tuesday. The firm has a market capitalization of $2.70 billion, a PE ratio of 15.59 and a beta of 1.33. The stock has a 50 day moving average of $35.38 and a 200-day moving average of $30.35. BankUnited, Inc. has a 52 week low of $20.84 and a 52 week high of $39.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22.

BankUnited (NYSE:BKU) last posted 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 during the quarter, compared to analyst estimates of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. Analysts predict that BankUnited, Inc. will post 2.88 EPS for the current year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 12th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, July 12th. BankUnited’s dividend payout ratio (DPR) is presently 50.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wedbush upped their target price on BankUnited from $30.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their target price on BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their price target on BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 9th. Barclays boosted their price target on BankUnited from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company boosted their price target on BankUnited from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $34.40.

Insider Activity

In related news, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the transaction, the director now directly owns 10,282 shares of the company’s stock, valued at approximately $396,576.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jay D. Richards sold 10,143 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the transaction, the insider now directly owns 37,187 shares of the company’s stock, valued at approximately $1,361,416.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the transaction, the director now directly owns 10,282 shares of the company’s stock, valued at $396,576.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,507 shares of company stock valued at $802,400. 1.19% of the stock is currently owned by insiders.

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.