Hsbc Holdings PLC Sells 25,522 Shares of BankUnited, Inc. $BKU

Key Points

• HSBC Holdings PLC cut its BankUnited stake by 38.3% in the fourth quarter, selling 25,522 shares and leaving it with 41,136 shares valued at about $1.84 million.
• Wall Street sentiment on BankUnited (NYSE:BKU) remains mixed-to-positive, with analysts setting an average target price of $53.27 and a consensus rating of Moderate Buy despite several recent price-target cuts.
• BankUnited reported weaker-than-expected quarterly results, posting EPS of $0.83 versus the $0.97 estimate and revenue of $273.69 million versus $284.57 million expected, while also announcing a quarterly dividend of $0.33 per share.

Hsbc Holdings PLC trimmed its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 38.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,136 shares of the financial services provider's stock after selling 25,522 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of BankUnited worth $1,835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in BankUnited by 21.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,472 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 255 shares in the last quarter. Covestor Ltd raised its holdings in BankUnited by 20.9% in the fourth quarter. Covestor Ltd now owns 1,673 shares of the financial services provider's stock worth $75,000 after purchasing an additional 289 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of BankUnited by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,213 shares of the financial services provider's stock worth $767,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of BankUnited by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider's stock worth $81,000 after purchasing an additional 358 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of BankUnited by 2.4% in the 3rd quarter. Mackenzie Financial Corp now owns 19,550 shares of the financial services provider's stock valued at $746,000 after buying an additional 455 shares during the period. Institutional investors own 99.70% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on BKU shares. Hovde Group lowered their price objective on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating for the company in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods decreased their target price on BankUnited from $55.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, April 23rd. Barclays decreased their target price on BankUnited from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 7th. Cantor Fitzgerald raised their price target on BankUnited from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings raised BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.27.

BankUnited Stock Down 1.7%

Shares of BKU stock opened at $48.41 on Tuesday. BankUnited, Inc. has a 12-month low of $34.79 and a 12-month high of $52.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $47.11 and a 200-day moving average of $46.68. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 13.48 and a beta of 1.17.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.14). The company had revenue of $273.69 million during the quarter, compared to the consensus estimate of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities research analysts predict that BankUnited, Inc. will post 4.16 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, July 10th. BankUnited's payout ratio is 36.77%.

Insider Activity

In related news, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $45.97, for a total transaction of $45,970.00. Following the completion of the transaction, the director directly owned 15,027 shares in the company, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total value of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares in the company, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

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.

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