BankUnited, Inc. $BKU Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in BankUnited, Inc. (NYSE:BKU) by 44.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,947 shares of the financial services provider’s stock after selling 12,199 shares during the period. State of Alaska Department of Revenue’s holdings in BankUnited were worth $630,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of BankUnited during the 2nd quarter valued at about $518,492,000. Dimensional Fund Advisors LP raised its stake in shares of BankUnited by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider’s stock valued at $210,390,000 after acquiring an additional 26,292 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of BankUnited in the 2nd quarter valued at approximately $46,177,000. Bank of America Corp DE lifted its holdings in BankUnited by 9.0% in the 1st quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider’s stock worth $37,011,000 after purchasing an additional 67,981 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in BankUnited by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 360,326 shares of the financial services provider’s stock worth $16,272,000 after purchasing an additional 2,176 shares during the last quarter. Institutional investors own 99.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BKU. Piper Sandler decreased their target price on BankUnited from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Wall Street Zen raised shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of BankUnited in a research note on Wednesday, August 26th. Zacks Research downgraded shares of BankUnited from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Finally, Cantor Fitzgerald decreased their price objective on shares of BankUnited from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.18.

Insider Activity at BankUnited

In other news, Director Douglas Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the sale, the director directly owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. This represents a 6.60% 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 this hyperlink. 1.00% of the stock is currently owned by company insiders.

BankUnited Trading Down 0.3%

BankUnited stock opened at $43.64 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The business’s 50-day simple moving average is $44.28 and its 200-day simple moving average is $46.22. The firm has a market capitalization of $3.11 billion, a PE ratio of 11.76 and a beta of 1.20. BankUnited, Inc. has a 52 week low of $37.28 and a 52 week high of $52.11.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $1.03 earnings per share for the quarter, meeting the consensus estimate of $1.03. The firm had revenue of $280.44 million during the quarter, compared to the consensus estimate of $292.50 million. BankUnited had a return on equity of 9.36% and a net margin of 15.01%. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts forecast that BankUnited, Inc. will post 3.95 earnings per share for the current year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, October 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. BankUnited’s payout ratio is 36.16%.

About BankUnited

BankUnited, Inc (NYSE:BKU) is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.

BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.

The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.