Rhumbline Advisers Sells 9,709 Shares of BankUnited, Inc. (NYSE:BKU)

Rhumbline Advisers decreased its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,163 shares of the financial services provider's stock after selling 9,709 shares during the period. Rhumbline Advisers owned about 0.30% of BankUnited worth $7,686,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in BankUnited by 12.9% in the fourth quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider's stock valued at $107,696,000 after acquiring an additional 322,368 shares during the period. Bank of Montreal Can grew its stake in shares of BankUnited by 4.1% in the 4th quarter. Bank of Montreal Can now owns 15,163 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 593 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of BankUnited in the 4th quarter valued at approximately $766,000. Principal Financial Group Inc. lifted its position in shares of BankUnited by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 362,487 shares of the financial services provider's stock worth $13,836,000 after buying an additional 10,064 shares during the period. Finally, Man Group plc acquired a new stake in BankUnited in the 4th quarter valued at $380,000. Institutional investors own 99.70% of the company's stock.

BankUnited Stock Down 1.4%

NYSE:BKU traded down $0.50 during trading hours on Thursday, reaching $34.38. The company had a trading volume of 113,643 shares, compared to its average volume of 794,211. BankUnited, Inc. has a twelve month low of $26.88 and a twelve month high of $44.45. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 11.16 and a beta of 1.30. The business's 50-day simple moving average is $33.32 and its two-hundred day simple moving average is $36.57.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. The company had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 11th were paid a dividend of $0.31 per share. This is a boost from BankUnited's previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, April 11th. BankUnited's dividend payout ratio is presently 38.51%.

Insider Activity

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the transaction, the director now owns 14,516 shares in the company, valued at approximately $499,785.88. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total value of $764,362.56. Following the transaction, the chief financial officer now owns 59,899 shares of the company's stock, valued at approximately $2,010,210.44. This represents a 27.55% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on BKU shares. Barclays decreased their price objective on shares of BankUnited from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group initiated coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their target price on BankUnited from $50.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Hovde Group cut their price target on BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $40.42.

BankUnited Company 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.