BankUnited, Inc. (NYSE:BKU) Stock Position Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its position in BankUnited, Inc. (NYSE:BKU) by 2.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,200 shares of the financial services provider’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in BankUnited were worth $1,212,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position in BankUnited by 42.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider’s stock worth $53,000 after buying an additional 410 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of BankUnited by 165.5% during the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BankUnited during the 4th quarter valued at $73,000. Xponance Inc. bought a new position in shares of BankUnited during the 4th quarter valued at $207,000. Finally, Marshall Wace LLP bought a new position in shares of BankUnited during the 4th quarter valued at $216,000. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BKU shares. Royal Bank Of Canada dropped their target price on shares of BankUnited from $42.00 to $40.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Jefferies Financial Group assumed coverage on shares of BankUnited in a research report on Wednesday, May 21st. They issued a “hold” rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods decreased their target price on shares of BankUnited from $40.00 to $38.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Citigroup lifted their target price on shares of BankUnited from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Finally, Hovde Group decreased their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.58.

Insiders Place Their Bets

In other news, Director John N. Digiacomo sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Leslie Lunak sold 22,776 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the transaction, the chief financial officer directly owned 59,899 shares in the company, valued at $2,010,210.44. This trade represents a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

BankUnited Trading Up 2.5%

BKU opened at $37.93 on Friday. The company’s 50 day moving average is $35.42 and its 200-day moving average is $35.78. BankUnited, Inc. has a 1-year low of $28.21 and a 1-year high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.83. The company has a market cap of $2.85 billion, a P/E ratio of 11.78 and a beta of 1.29.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 12.26% and a return on equity of 8.66%. During the same quarter in the previous year, the business earned $0.64 earnings per share. Equities research analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. BankUnited’s dividend payout ratio is currently 38.51%.

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.