UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in BankUnited, Inc. $BKU

Key Points

• UBS Asset Management cut its BankUnited stake by 38.6% in the second quarter, selling 99,808 shares and retaining 158,649 shares valued at approximately $7.7 million. Institutional investors collectively own 99.7% of the company.
• BankUnited reported quarterly earnings of $0.97 per share, below the $1.00 analyst consensus, while revenue rose 3.9% year over year to $284.6 million. The company paid a quarterly dividend of $0.33, representing a 2.8% annualized yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $51.64; recent targets ranged from $42 to $50, while insiders also sold shares. BankUnited shares opened at $46.42, with a market capitalization of about $3.31 billion.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 38.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,649 shares of the financial services provider's stock after selling 99,808 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of BankUnited worth $7,687,000 as of its most recent SEC filing.

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

Insider Transactions at BankUnited

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

BankUnited Trading Up 0.1%

BKU opened at $46.42 on Tuesday. The firm's 50 day moving average is $47.21 and its 200-day moving average is $46.79. BankUnited, Inc. has a 52-week low of $35.10 and a 52-week 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 0.54. The firm has a market capitalization of $3.31 billion, a P/E ratio of 12.72 and a beta of 1.17.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.03). The firm had revenue of $284.57 million during the quarter, compared to analysts' expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. BankUnited's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 earnings per share. Analysts expect that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.

BankUnited Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited's dividend payout ratio is presently 36.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating on shares of BankUnited in a research report on Wednesday, July 22nd. Royal Bank Of Canada decreased their price target on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating for the company in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lowered their price target on BankUnited from $51.00 to $49.00 and set a "market perform" rating for the company in a report on Monday, August 3rd. Zacks Research lowered BankUnited from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Finally, Citigroup reduced their price objective on BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, BankUnited currently has a consensus rating of "Hold" and an average target price of $51.64.

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.

Want to see what other hedge funds are holding BKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BankUnited, Inc. (NYSE:BKU - Free Report).

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.