Arizona State Retirement System Cuts Stock Holdings in BankUnited, Inc. (NYSE:BKU)

Arizona State Retirement System decreased its holdings in shares of BankUnited, Inc. (NYSE:BKUGet Rating) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,083 shares of the financial services provider’s stock after selling 899 shares during the period. Arizona State Retirement System’s holdings in BankUnited were worth $1,059,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. State Street Corp raised its stake in shares of BankUnited by 6.2% during the 4th quarter. State Street Corp now owns 5,432,012 shares of the financial services provider’s stock worth $229,828,000 after buying an additional 316,720 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in BankUnited by 41.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 743,326 shares of the financial services provider’s stock worth $31,450,000 after acquiring an additional 218,545 shares during the last quarter. Hunter Perkins Capital Management LLC purchased a new stake in shares of BankUnited in the first quarter valued at about $9,113,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of BankUnited in the fourth quarter valued at about $6,794,000. Finally, D. E. Shaw & Co. Inc. grew its position in shares of BankUnited by 217.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 203,651 shares of the financial services provider’s stock valued at $8,616,000 after purchasing an additional 139,456 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BankUnited

In other BankUnited news, insider Jay D. Richards sold 7,415 shares of BankUnited stock in a transaction that occurred 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 transaction, the insider now directly owns 30,973 shares of the company’s stock, valued at $1,282,282.20. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.91% of the company’s stock.

BankUnited Price Performance

BankUnited stock opened at $37.80 on Wednesday. BankUnited, Inc. has a 1 year low of $33.90 and a 1 year high of $46.75. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.81 and a current ratio of 0.84. The firm has a 50 day moving average price of $37.44 and a 200 day moving average price of $40.44. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 9.55 and a beta of 1.25.

BankUnited (NYSE:BKUGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.08). The company had revenue of $238.87 million for the quarter, compared to analysts’ expectations of $245.42 million. BankUnited had a net margin of 32.13% and a return on equity of 12.00%. During the same period in the prior year, the firm earned $1.11 earnings per share. Sell-side analysts predict that BankUnited, Inc. will post 3.7 earnings per share for the current year.

BankUnited Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, July 14th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, July 13th. BankUnited’s dividend payout ratio is currently 25.25%.

Analyst Ratings Changes

BKU has been the subject of several research reports. Piper Sandler lifted their price objective on BankUnited to $40.00 in a research report on Friday, July 22nd. StockNews.com upgraded BankUnited from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and set a $51.00 target price for the company. in a research note on Thursday, June 2nd. Wells Fargo & Company upped their target price on shares of BankUnited to $45.00 in a report on Friday, July 22nd. Finally, Wedbush lifted their price target on shares of BankUnited to $40.00 in a report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.00.

BankUnited Company Profile

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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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Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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