Maryland State Retirement & Pension System Decreases Stock Position in BankUnited, Inc. (NYSE:BKU)

Maryland State Retirement & Pension System lowered its stake in BankUnited, Inc. (NYSE:BKU – Get Rating) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,345 shares of the financial services provider’s stock after selling 1,172 shares during the period. Maryland State Retirement & Pension System’s holdings in BankUnited were worth $1,510,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in shares of BankUnited in the fourth quarter worth about $30,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of BankUnited in the fourth quarter worth about $30,000. Lazard Asset Management LLC boosted its position in BankUnited by 85.5% during the 4th quarter. Lazard Asset Management LLC now owns 963 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 444 shares in the last quarter. Jefferies Group LLC bought a new stake in BankUnited during the 3rd quarter valued at approximately $218,000. Finally, HighTower Advisors LLC bought a new stake in BankUnited during the 3rd quarter valued at approximately $221,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

Shares of NYSE BKU opened at $35.64 on Thursday. BankUnited, Inc. has a twelve month low of $34.57 and a twelve month high of $46.75. The firm has a market cap of $2.91 billion, a P/E ratio of 8.39 and a beta of 1.23. The company has a 50 day moving average of $39.50 and a 200 day moving average of $41.74. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.19.

BankUnited (NYSE:BKU – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The financial services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.06). The firm had revenue of $222.94 million during the quarter, compared to analysts’ expectations of $236.79 million. BankUnited had a return on equity of 12.61% and a net margin of 35.89%. During the same quarter in the previous year, the firm earned $1.06 earnings per share. As a group, equities analysts expect that BankUnited, Inc. will post 3.69 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Piper Sandler cut BankUnited from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $45.00 to $41.00 in a research report on Monday, May 9th. StockNews.com raised BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, June 17th. Keefe, Bruyette & Woods cut BankUnited from an “outperform” rating to a “market perform” rating and set a $51.00 price target on the stock. in a research report on Thursday, June 2nd. The Goldman Sachs Group boosted their price target on BankUnited from $42.50 to $48.00 and gave the stock a “sell” rating in a research report on Monday, April 4th. Finally, JPMorgan Chase & Co. cut BankUnited from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $50.00 to $43.00 in a research report on Monday, April 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.29.

In other BankUnited news, insider Kevin A. Malcolm sold 703 shares of the business’s stock in a transaction on Tuesday, April 26th. The shares were sold at an average price of $39.16, for a total transaction of $27,529.48. Following the completion of the sale, the insider now directly owns 7,000 shares in the company, valued at approximately $274,120. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jay D. Richards sold 7,415 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $41.40, for a total transaction of $306,981.00. Following the sale, the insider now owns 30,973 shares of the company’s stock, valued at $1,282,282.20. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

BankUnited Profile (Get Rating)

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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