Vanguard Group Inc. Sells 96,696 Shares of BankUnited, Inc. $BKU

Key Points

• Vanguard Group Inc. reduced its stake in BankUnited, selling 96,696 shares and owning approximately 12.63% of the company, worth $327.26 million.
• Insider transactions include Director John N. Digiacomo and Jay D. Richards selling shares, reflecting a decrease in their positions by 6.44% and 9.14%, respectively.
• BankUnited announced a quarterly dividend of $0.31 per share, translating to an annualized dividend of $1.24 and a yield of 3.3%.

Vanguard Group Inc. lowered its holdings in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,502,257 shares of the financial services provider's stock after selling 96,696 shares during the period. Vanguard Group Inc. owned approximately 12.63% of BankUnited worth $327,258,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BKU. Versant Capital Management Inc boosted its holdings in BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after acquiring an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in BankUnited in the fourth quarter worth approximately $73,000. Marshall Wace LLP bought a new position in BankUnited in the fourth quarter worth approximately $216,000. GTS Securities LLC bought a new position in BankUnited in the fourth quarter worth approximately $261,000. Finally, James Investment Research Inc. bought a new position in BankUnited in the first quarter worth approximately $245,000. Institutional investors and hedge funds own 99.70% of the company's stock.

Insider Activity

In other news, insider Jay D. Richards sold 3,942 shares of BankUnited stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the transaction, the insider directly owned 39,193 shares in the company, valued at approximately $1,521,080.33. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the sale, the director directly owned 43,205 shares of the company's stock, valued at approximately $1,675,921.95. This trade represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,442 shares of company stock worth $323,184. 1.15% of the stock is owned by corporate insiders.

BankUnited Stock Performance

BankUnited stock traded down $0.26 during mid-day trading on Thursday, reaching $37.04. 5,505 shares of the company's stock were exchanged, compared to its average volume of 818,869. The business's fifty day simple moving average is $36.57 and its 200 day simple moving average is $35.43. The firm has a market capitalization of $2.79 billion, a PE ratio of 10.87 and a beta of 1.32. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly 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. The business had revenue of $273.93 million for the quarter, compared to analyst estimates of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.During the same period last year, the company posted $0.72 earnings per share. On average, sell-side analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a $0.31 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. BankUnited's payout ratio is 36.36%.

Analyst Ratings Changes

Several brokerages have issued reports on BKU. Royal Bank Of Canada reiterated a "sector perform" rating on shares of BankUnited in a report on Thursday, July 24th. Piper Sandler restated a "neutral" rating and issued a $43.00 target price (up previously from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on BankUnited from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group dropped their target price on BankUnited from $38.00 to $34.00 and set a "sell" rating on the stock in a report on Wednesday, April 30th. Finally, Jefferies Financial Group began coverage on BankUnited in a report on Wednesday, May 21st. They issued a "hold" rating and a $39.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.55.

About BankUnited

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.