Alps Advisors Inc. cut its position in BankUnited Inc. (NYSE:BKU) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,169 shares of the financial services provider’s stock after selling 824 shares during the period. Alps Advisors Inc.’s holdings in BankUnited were worth $343,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BKU. IFP Advisors Inc increased its position in shares of BankUnited by 39.0% in the first quarter. IFP Advisors Inc now owns 3,812 shares of the financial services provider’s stock worth $131,000 after buying an additional 1,069 shares during the last quarter. Bayesian Capital Management LP acquired a new position in shares of BankUnited during the first quarter worth about $234,000. BlueMountain Capital Management LLC acquired a new position in shares of BankUnited during the first quarter worth about $248,000. Aperio Group LLC increased its position in shares of BankUnited by 19.3% in the first quarter. Aperio Group LLC now owns 8,011 shares of the financial services provider’s stock worth $276,000 after buying an additional 1,296 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of BankUnited by 30.5% in the first quarter. Glenmede Trust Co. NA now owns 9,094 shares of the financial services provider’s stock worth $312,000 after buying an additional 2,128 shares during the last quarter. 97.02% of the stock is owned by institutional investors.
BankUnited Inc. (NYSE:BKU) traded down 0.57% on Wednesday, hitting $29.67. 544,773 shares of the company traded hands. The stock’s 50-day moving average is $30.79 and its 200 day moving average is $31.96. BankUnited Inc. has a 12 month low of $27.85 and a 12 month high of $39.97. The stock has a market cap of $3.09 billion, a PE ratio of 11.84 and a beta of 0.83.
BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. BankUnited had a net margin of 24.42% and a return on equity of 9.80%. During the same period last year, the firm earned $0.43 EPS. Equities research analysts expect that BankUnited Inc. will post $2.10 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.83%. BankUnited’s dividend payout ratio is presently 33.60%.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of BankUnited from a “sell” rating to a “hold” rating in a report on Friday, June 17th. Bank of America Corp. reissued a “buy” rating and set a $38.00 price objective on shares of BankUnited in a report on Monday, June 20th. Sandler O’Neill raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, June 29th. BMO Capital Markets reissued an “outperform” rating and set a $35.00 price objective on shares of BankUnited in a report on Wednesday, July 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BankUnited from $40.00 to $34.50 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. BankUnited currently has an average rating of “Hold” and an average target price of $35.63.
In other news, insider Jeffrey Starr sold 5,000 shares of BankUnited stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $31.20, for a total value of $156,000.00. Following the sale, the insider now owns 34,000 shares of the company’s stock, valued at $1,060,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Bagnoli sold 2,000 shares of BankUnited stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $30.11, for a total transaction of $60,220.00. Following the completion of the sale, the insider now directly owns 17,458 shares in the company, valued at approximately $525,660.38. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by company insiders.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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