Hsbc Holdings PLC Buys New Shares in BankUnited, Inc. $BKU

Key Points

• HSBC Holdings purchased 34,732 BankUnited shares during the second quarter, valued at approximately $1.67 million. Institutional investors collectively own 99.70% of the company.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $51.64; targets from individual firms range from $49 to $56.
• BankUnited reported quarterly EPS of $0.97, below the $1.00 consensus estimate, while revenue rose 3.9% year over year to $284.57 million. The company maintains a $0.33 quarterly dividend, equivalent to a 2.8% yield.

Hsbc Holdings PLC purchased a new stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,732 shares of the financial services provider's stock, valued at approximately $1,670,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP purchased a new stake in BankUnited in the 2nd quarter worth approximately $26,000. Eurizon Capital SGR S.p.A. bought a new position in shares of BankUnited during the fourth quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new position in shares of BankUnited during the fourth quarter valued at approximately $35,000. Strs Ohio purchased a new stake in BankUnited in the first quarter worth $28,000. Finally, Quarry LP lifted its stake in BankUnited by 158.2% in the third quarter. Quarry LP now owns 940 shares of the financial services provider's stock worth $36,000 after acquiring an additional 576 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of BankUnited in a research report on Wednesday. Wells Fargo & Company began coverage on shares of BankUnited in a research note on Monday, August 10th. They set an "overweight" rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of BankUnited from $51.00 to $49.00 and set a "market perform" rating for the company in a research note on Monday, August 3rd. Cantor Fitzgerald restated an "overweight" rating and issued a $56.00 price objective on shares of BankUnited in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada cut their price objective on BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $51.64.

Insider Transactions at BankUnited

In other BankUnited news, Director Douglas J. Pauls sold 3,000 shares of BankUnited stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the transaction, the director directly owned 42,472 shares of the company's stock, valued at approximately $2,034,408.80. The trade was a 6.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay D. Richards sold 4,000 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company's stock.

BankUnited Stock Up 0.2%

NYSE:BKU opened at $46.48 on Monday. The firm's 50-day moving average price is $47.64 and its 200-day moving average price is $46.93. The company has a market capitalization of $3.31 billion, a PE ratio of 12.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. BankUnited, Inc. has a 1-year low of $35.10 and a 1-year high of $52.11.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.03). BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business had revenue of $284.57 million for the quarter, compared to analysts' expectations of $290.33 million. During the same period last year, the business earned $0.91 earnings per share. The company's revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited's dividend payout ratio (DPR) is presently 36.16%.

BankUnited Company Profile

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source