Vestcor Inc Sells 12,687 Shares of BankUnited, Inc. (NYSE:BKU)

Key Points

• Vestcor Inc reduced its holdings in BankUnited, Inc. by 72.8%, now owning 4,729 shares valued at $163,000.
• BankUnited recently declared a quarterly dividend of $0.31 per share, resulting in an annualized payout of $1.24 and a dividend yield of 3.5%.
• Several analysts have upgraded their ratings for BankUnited, with Barclays raising their price target to $43.00 and the consensus rating being "Hold."

Vestcor Inc decreased its holdings in BankUnited, Inc. (NYSE:BKU - Free Report) by 72.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,729 shares of the financial services provider's stock after selling 12,687 shares during the quarter. Vestcor Inc's holdings in BankUnited were worth $163,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its position in shares of BankUnited by 6.8% during the fourth 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. Bank of Montreal Can lifted its stake in BankUnited by 4.1% in the 4th quarter. Bank of Montreal Can now owns 15,163 shares of the financial services provider's stock worth $579,000 after purchasing an additional 593 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of BankUnited by 9.8% in the 1st quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider's stock worth $280,000 after buying an additional 726 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in BankUnited by 14.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,174 shares of the financial services provider's stock worth $274,000 after acquiring an additional 932 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of BankUnited by 165.5% in the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,175 shares during the period. Institutional investors own 99.70% of the company's stock.

BankUnited Price Performance

NYSE:BKU traded up $0.51 during mid-day trading on Friday, reaching $36.14. 158,932 shares of the stock were exchanged, compared to its average volume of 830,420. The business has a fifty day moving average price of $36.06 and a 200 day moving average price of $35.64. The firm has a market capitalization of $2.72 billion, a PE ratio of 10.62 and a beta of 1.32. BankUnited, Inc. has a 1-year low of $28.21 and a 1-year high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The business had revenue of $273.93 million during the quarter, compared to analyst estimates of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%. During the same period in the previous year, the company earned $0.72 EPS. Research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, July 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.4%. BankUnited's payout ratio is 36.36%.

Wall Street Analysts Forecast Growth

BKU has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of BankUnited from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Wall Street Zen raised shares of BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. The Goldman Sachs Group decreased their price target on shares of BankUnited from $38.00 to $34.00 and set a "sell" rating on the stock in a research note on Wednesday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating on shares of BankUnited in a research note on Thursday, July 24th. Finally, Jefferies Financial Group assumed coverage on shares of BankUnited in a research report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, BankUnited currently has a consensus rating of "Hold" and a consensus target price of $41.55.

Insider Transactions at BankUnited

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total value of $34,430.00. Following the sale, the director directly owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay D. Richards sold 3,942 shares of the company's stock in a transaction 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 sale, the insider owned 39,193 shares in the company, valued at $1,521,080.33. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,442 shares of company stock worth $323,184 over the last three months. 1.15% of the stock is currently owned by insiders.

About BankUnited

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.