BankUnited, Inc. (NYSE:BKU) Insider Sells $152,989.02 in Stock

Key Points

• Insider Jay D. Richards sold 3,942 shares of BankUnited, Inc. for a total of $152,989.02, reducing their ownership by 9.14% to 39,193 shares.
• BankUnited reported an earnings per share (EPS) of $0.91 for the quarter, exceeding estimates by $0.12, with revenue reaching $273.93 million.
• The firm declared a quarterly dividend of $0.31 per share, with a dividend yield of 3.29%, payable on July 31st to stockholders of record.

BankUnited, Inc. (NYSE:BKU - Get Free Report) insider Jay D. Richards sold 3,942 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the transaction, the insider owned 39,193 shares of the company's stock, valued at approximately $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

BankUnited Stock Performance

Shares of NYSE BKU traded down $0.76 during midday trading on Friday, hitting $35.71. 982,354 shares of the company's stock were exchanged, compared to its average volume of 798,775. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76. BankUnited, Inc. has a 12 month low of $28.21 and a 12 month high of $44.45. The company's 50 day moving average price is $35.96 and its 200 day moving average price is $35.75. The firm has a market capitalization of $2.69 billion, a PE ratio of 10.47 and a beta of 1.29.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The business had revenue of $273.93 million during the quarter, compared to analysts' expectations of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%. During the same period last year, the firm posted $0.72 EPS. As a group, analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, July 11th. BankUnited's dividend payout ratio (DPR) is presently 36.36%.

Analysts Set New Price Targets

A number of research firms have weighed in on BKU. Wells Fargo & Company raised their price target on BankUnited from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Hovde Group raised their price target on BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citigroup raised their price target on BankUnited from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Piper Sandler restated a "neutral" rating and issued a $43.00 price target (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Finally, Barclays raised their price target on BankUnited from $41.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, BankUnited currently has a consensus rating of "Hold" and a consensus target price of $41.55.

Institutional Trading of BankUnited

Several hedge funds have recently added to or reduced their stakes in the company. Bayforest Capital Ltd lifted its holdings in BankUnited by 32.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider's stock worth $40,000 after purchasing an additional 271 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in BankUnited by 1.4% in the 2nd 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 raised its holdings in BankUnited by 1.2% in the 2nd 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. Nomura Asset Management Co. Ltd. raised its holdings 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 valued at $53,000 after acquiring an additional 410 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in BankUnited by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,802 shares of the financial services provider's stock valued at $298,000 after acquiring an additional 495 shares in the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.

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.