JPMorgan Chase & Co. Sells 304,029 Shares of BankUnited, Inc. $BKU

JPMorgan Chase & Co. cut its holdings in BankUnited, Inc. (NYSE:BKU) by 12.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,229,399 shares of the financial services provider’s stock after selling 304,029 shares during the period. JPMorgan Chase & Co. owned about 2.97% of BankUnited worth $85,074,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its position in BankUnited by 15.3% in the first quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 2,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in BankUnited by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider’s stock worth $1,528,000 after buying an additional 1,934 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of BankUnited during the 1st quarter worth about $9,100,000. Strs Ohio acquired a new position in shares of BankUnited during the 1st quarter worth about $28,000. Finally, Geode Capital Management LLC grew its holdings in shares of BankUnited by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,776,183 shares of the financial services provider’s stock valued at $63,223,000 after acquiring an additional 13,555 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BKU shares. Royal Bank Of Canada upped their target price on BankUnited from $48.00 to $53.00 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. Piper Sandler increased their price target on BankUnited from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, January 22nd. Jefferies Financial Group decreased their price target on BankUnited from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Barclays boosted their price target on BankUnited from $47.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their price objective on BankUnited from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BankUnited presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.55.

Insider Buying and Selling

In related news, insider Jay D. Richards sold 3,506 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total transaction of $174,703.98. Following the transaction, the insider directly owned 35,687 shares of the company’s stock, valued at approximately $1,778,283.21. The trade was a 8.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sanjiv Sobti sold 5,000 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $50.88, for a total value of $254,400.00. Following the completion of the sale, the director owned 18,816 shares in the company, valued at approximately $957,358.08. This trade represents a 20.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 11,953 shares of company stock valued at $591,492. 1.15% of the stock is owned by insiders.

BankUnited Stock Down 1.6%

Shares of BKU stock opened at $42.49 on Thursday. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $52.11. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 12.00 and a beta of 1.29. The firm’s 50-day moving average is $47.25 and its 200-day moving average is $43.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.82 and a current ratio of 0.82.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. The business had revenue of $260.80 million during the quarter, compared to analysts’ expectations of $279.76 million. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.During the same quarter last year, the company posted $0.91 earnings per share. Sell-side analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 9th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, January 9th. BankUnited’s payout ratio is currently 35.03%.

About BankUnited

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.