Hsbc Holdings PLC Acquires New Shares in BankUnited, Inc. $BKU

Hsbc Holdings PLC acquired a new position in BankUnited, Inc. (NYSE:BKU) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 34,732 shares of the financial services provider’s stock, valued at approximately $1,670,000.

A number of other hedge funds have also bought and sold shares of BKU. Allworth Financial LP purchased a new stake in shares of BankUnited during the 2nd quarter valued at about $26,000. Strs Ohio purchased a new position in shares of BankUnited during the first quarter valued at approximately $28,000. Eurizon Capital SGR S.p.A. bought a new position in BankUnited during the fourth quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new position in BankUnited during the fourth quarter valued at approximately $35,000. Finally, Quarry LP boosted its holdings in BankUnited by 158.2% in the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 576 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BKU shares. Zacks Research downgraded shares of BankUnited from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada lowered their price target on BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Thursday, July 23rd. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of BankUnited in a report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of BankUnited in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.64.

BankUnited Stock Performance

Shares of NYSE BKU opened at $46.48 on Monday. BankUnited, Inc. has a 12-month low of $35.10 and a 12-month high of $52.11. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 12.73 and a beta of 1.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $47.64 and a 200 day moving average of $46.93.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.03). The business had revenue of $284.57 million during the quarter, compared to the consensus estimate of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, research analysts anticipate that BankUnited, Inc. will post 4.01 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited’s dividend payout ratio is 36.16%.

Insiders Place Their Bets

In related news, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction on Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the transaction, the insider directly owned 40,502 shares in the company, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas J. Pauls sold 3,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the sale, the director directly owned 42,472 shares of the company’s stock, valued at $2,034,408.80. This represents a 6.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by company insiders.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.