BankUnited, Inc. $BKU Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in BankUnited, Inc. by 2.7%, now holding approximately $29.33 million, which equates to about 1.13% of the company's shares.
• Multiple hedge funds have increased their positions in BankUnited, with Brooklyn Investment Group growing its stake by an astonishing 14,050.0% during the first quarter.
• BankUnited recently reported earnings of $0.91 per share, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.31, reflecting a 3.2% yield.

Northern Trust Corp lessened its position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 851,655 shares of the financial services provider's stock after selling 23,795 shares during the quarter. Northern Trust Corp owned about 1.13% of BankUnited worth $29,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its position in BankUnited by 31.7% in the first quarter. CWM LLC now owns 7,464 shares of the financial services provider's stock valued at $257,000 after purchasing an additional 1,798 shares during the period. Principal Financial Group Inc. raised its position in BankUnited by 2.7% in the first quarter. Principal Financial Group Inc. now owns 372,237 shares of the financial services provider's stock valued at $12,820,000 after purchasing an additional 9,750 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in BankUnited in the first quarter valued at approximately $585,000. Bank of New York Mellon Corp raised its position in BankUnited by 36.8% in the first quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock valued at $36,496,000 after purchasing an additional 285,092 shares during the period. Finally, New York State Teachers Retirement System raised its position in BankUnited by 20.6% in the first quarter. New York State Teachers Retirement System now owns 31,614 shares of the financial services provider's stock valued at $1,089,000 after purchasing an additional 5,395 shares during the period. Hedge funds and other institutional investors own 99.70% of the company's stock.

BankUnited Stock Up 0.1%

Shares of BKU stock traded up $0.06 on Wednesday, reaching $38.80. 505,814 shares of the stock were exchanged, compared to its average volume of 809,071. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76. The business's 50 day moving average price is $37.42 and its 200 day moving average price is $35.27. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 11.38 and a beta of 1.29. BankUnited, Inc. has a twelve month low of $28.21 and a twelve month high of $44.45.

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

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, July 11th. BankUnited's dividend payout ratio is currently 36.36%.

Insider Buying and Selling at BankUnited

In other BankUnited news, 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 transaction, the insider owned 39,193 shares in the company, valued at $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.79, for a total transaction of $135,765.00. Following the completion of the transaction, the director owned 43,205 shares of the company's stock, valued at $1,675,921.95. This represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised BankUnited from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Citigroup upped their price objective on BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Piper Sandler reaffirmed a "neutral" rating and set a $43.00 price objective (up previously from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Finally, Barclays upped their price objective on BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $41.55.

BankUnited 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.