Ethic Inc. Lowers Position in BankUnited, Inc. $BKU

Ethic Inc. cut its holdings in BankUnited, Inc. (NYSE:BKU) by 26.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,262 shares of the financial services provider’s stock after selling 2,640 shares during the period. Ethic Inc.’s holdings in BankUnited were worth $259,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bayforest Capital Ltd grew its holdings in shares of BankUnited by 32.3% in the second quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 271 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of BankUnited by 1.4% in the second quarter. Maryland State Retirement & Pension System now owns 22,104 shares of the financial services provider’s stock valued at $787,000 after acquiring an additional 304 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of BankUnited by 1.2% in the second quarter. Yousif Capital Management LLC now owns 27,917 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 337 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of BankUnited by 9.8% in the first quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 726 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of BankUnited in the first quarter valued at approximately $28,000. 99.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BKU has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $44.00 target price on shares of BankUnited in a report on Thursday, October 23rd. Jefferies Financial Group reduced their target price on BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, October 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $43.00 target price (up from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Keefe, Bruyette & Woods increased their price objective on BankUnited from $38.00 to $42.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $42.00 price objective on shares of BankUnited in a report on Thursday, October 23rd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.91.

BankUnited Price Performance

Shares of NYSE BKU opened at $39.81 on Friday. The stock has a fifty day simple moving average of $38.56 and a two-hundred day simple moving average of $36.44. BankUnited, Inc. has a 1-year low of $28.21 and a 1-year high of $44.45. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 11.21 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.84 and a debt-to-equity ratio of 0.69.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.11. The firm had revenue of $275.68 million for the quarter, compared to the consensus estimate of $280.33 million. BankUnited had a return on equity of 9.18% and a net margin of 13.98%.The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. Analysts anticipate that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, October 10th. This represents a $1.24 annualized dividend and a dividend yield of 3.1%. BankUnited’s dividend payout ratio is currently 34.93%.

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.