Rhumbline Advisers Sells 9,709 Shares of BankUnited, Inc. (NYSE:BKU)

Rhumbline Advisers reduced its position in BankUnited, Inc. (NYSE:BKU) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 223,163 shares of the financial services provider’s stock after selling 9,709 shares during the period. Rhumbline Advisers owned 0.30% of BankUnited worth $7,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in BankUnited by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 9,598,953 shares of the financial services provider’s stock valued at $366,392,000 after acquiring an additional 181,493 shares during the period. JPMorgan Chase & Co. raised its stake in BankUnited by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider’s stock valued at $107,696,000 after acquiring an additional 322,368 shares during the period. Royce & Associates LP grew its holdings in BankUnited by 3.3% during the 4th quarter. Royce & Associates LP now owns 1,149,827 shares of the financial services provider’s stock valued at $43,889,000 after buying an additional 36,328 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in BankUnited during the 4th quarter valued at about $34,525,000. Finally, Northern Trust Corp grew its holdings in BankUnited by 17.0% during the 4th quarter. Northern Trust Corp now owns 875,450 shares of the financial services provider’s stock valued at $33,416,000 after buying an additional 127,159 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

BankUnited Stock Up 1.8%

Shares of NYSE BKU opened at $35.45 on Wednesday. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 11.51 and a beta of 1.30. The business has a 50-day moving average of $33.21 and a 200-day moving average of $36.58. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. BankUnited, Inc. has a 12 month low of $26.78 and a 12 month high of $44.45.

BankUnited (NYSE:BKU) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. The business had revenue of $255.41 million during the quarter, compared to analyst estimates of $264.35 million. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.24 annualized dividend and a yield of 3.50%. This is an increase from BankUnited’s previous quarterly dividend of $0.29. BankUnited’s payout ratio is presently 38.51%.

Insider Buying and Selling at BankUnited

In other BankUnited news, CFO Leslie Lunak sold 22,776 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total value of $764,362.56. Following the completion of the sale, the chief financial officer now owns 59,899 shares in the company, valued at approximately $2,010,210.44. The trade was a 27.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sanjiv Sobti acquired 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $32.83 per share, with a total value of $32,830.00. Following the transaction, the director now directly owns 21,782 shares of the company’s stock, valued at approximately $715,103.06. The trade was a 4.81% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BKU shares. Keefe, Bruyette & Woods reduced their target price on BankUnited from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada reduced their target price on BankUnited from $42.00 to $40.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Wall Street Zen lowered BankUnited from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Hovde Group reduced their target price on BankUnited from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group reduced their target price on BankUnited from $38.00 to $34.00 and set a “sell” rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.42.

BankUnited Company 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.