Handelsbanken Fonder AB Cuts Stake in BankUnited, Inc. $BKU

Handelsbanken Fonder AB lessened its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,332 shares of the financial services provider’s stock after selling 3,600 shares during the period. Handelsbanken Fonder AB’s holdings in BankUnited were worth $617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKU. Strs Ohio acquired a new position in BankUnited during the 1st quarter valued at about $28,000. Brooklyn Investment Group grew its stake in shares of BankUnited by 14,050.0% during the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 843 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of BankUnited by 32.3% during 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. Headlands Technologies LLC increased its holdings in shares of BankUnited by 697.4% during the first quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,155 shares in the last quarter. Finally, Quarry LP raised its position in shares of BankUnited by 9,157.5% in the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 3,663 shares during the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

BankUnited Trading Down 0.2%

NYSE BKU opened at $43.21 on Friday. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $43.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.83 and a quick ratio of 0.84. The company has a market capitalization of $3.25 billion, a PE ratio of 12.17 and a beta of 1.34. The company has a fifty day moving average of $39.34 and a 200 day moving average of $37.62.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.11. The company 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 firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Research analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, October 10th. BankUnited’s dividend payout ratio (DPR) is currently 34.93%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group dropped their target price on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, October 22nd. 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. Wells Fargo & Company cut their target price on BankUnited from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $44.00 price target on shares of BankUnited in a research report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of BankUnited in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.91.

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.