BankUnited, Inc. $BKU Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard trimmed its stake in BankUnited by 2.2% to 8,988,809 shares—about a 11.96% ownership position worth $400.6 million, and institutional investors now own 99.70% of the stock.
• BankUnited missed quarterly expectations, reporting $0.83 EPS vs. $0.97 expected and revenue of $273.7 million vs. $284.6 million, with a net margin of 14.46% and ROE of 9.11%.
• The board raised the quarterly dividend to $0.33 ($1.32 annualized, ~2.8% yield), while several insiders have recently reduced their holdings through sales.

Vanguard Group Inc. decreased its holdings in BankUnited, Inc. (NYSE:BKU - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,988,809 shares of the financial services provider's stock after selling 197,930 shares during the period. Vanguard Group Inc. owned approximately 11.96% of BankUnited worth $400,631,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BKU. Royal Bank of Canada raised its holdings in BankUnited by 15.3% in the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock valued at $623,000 after acquiring an additional 2,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in BankUnited by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider's stock valued at $1,528,000 after acquiring an additional 1,934 shares during the last quarter. Jane Street Group LLC acquired a new stake in BankUnited in the 1st quarter valued at about $9,100,000. Strs Ohio acquired a new stake in BankUnited in the 1st quarter valued at about $28,000. Finally, Invesco Ltd. raised its holdings in BankUnited by 1.2% in the 2nd quarter. Invesco Ltd. now owns 570,879 shares of the financial services provider's stock valued at $20,318,000 after acquiring an additional 6,815 shares during the last quarter. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Performance

BankUnited stock opened at $47.99 on Thursday. The firm has a 50 day simple moving average of $45.88 and a 200-day simple moving average of $44.95. BankUnited, Inc. has a 1-year low of $33.05 and a 1-year high of $52.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 13.37 and a beta of 1.19.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.14). The firm had revenue of $273.69 million during the quarter, compared to analysts' expectations of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same period last year, the company earned $0.78 EPS. On average, analysts expect that BankUnited, Inc. will post 4.15 EPS for the current year.

BankUnited Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, April 10th. This is an increase from BankUnited's previous quarterly dividend of $0.31. BankUnited's dividend payout ratio is 36.77%.

Insider Buying and Selling

In related news, insider Kevin A. Malcolm sold 3,447 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $47.11, for a total transaction of $162,388.17. Following the completion of the transaction, the insider owned 11,500 shares of the company's stock, valued at approximately $541,765. This trade represents a 23.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sanjiv Sobti sold 5,000 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $50.88, for a total transaction of $254,400.00. Following the transaction, the director directly owned 18,816 shares of the company's stock, valued at $957,358.08. The trade was a 20.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group cut their price objective on shares of BankUnited from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, February 2nd. Wells Fargo & Company increased their price objective on shares of BankUnited from $50.00 to $55.00 and gave the company an "overweight" rating in a report on Monday, March 30th. Keefe, Bruyette & Woods dropped their price target on shares of BankUnited from $55.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, April 23rd. The Goldman Sachs Group reissued a "sell" rating on shares of BankUnited in a research note on Monday, February 2nd. Finally, Hovde Group dropped their price target on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BankUnited currently has a consensus rating of "Hold" and a consensus price target of $53.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.