Douglas Lane & Associates LLC lowered its position in shares of BankUnited (NYSE:BKU) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,762,977 shares of the financial services provider’s stock after selling 12,932 shares during the quarter. Douglas Lane & Associates LLC’s holdings in BankUnited were worth $62,409,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of BKU. Metropolitan Life Insurance Co. NY lifted its position in BankUnited by 1,225.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 2,796 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 2,585 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in BankUnited during the 2nd quarter worth approximately $121,000. FTB Advisors Inc. acquired a new position in BankUnited during the 2nd quarter worth approximately $123,000. Fox Run Management L.L.C. acquired a new position in BankUnited during the 2nd quarter worth approximately $223,000. Finally, Barings LLC acquired a new position in BankUnited during the 2nd quarter worth approximately $270,000. Institutional investors and hedge funds own 94.71% of the company’s stock.
In other BankUnited news, COO Thomas M. Cornish sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $40.02, for a total value of $400,200.00. Following the transaction, the chief operating officer now directly owns 90,249 shares of the company’s stock, valued at approximately $3,611,764.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.
Several equities analysts recently commented on the company. Barclays reduced their price target on BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 3rd. ValuEngine lowered BankUnited from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Morgan Stanley lowered BankUnited from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $46.00 to $42.00 in a research report on Tuesday, September 18th. Finally, Sandler O’Neill set a $47.00 price target on BankUnited and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. BankUnited presently has an average rating of “Hold” and a consensus target price of $43.30.
Shares of BKU traded down $0.39 during trading on Tuesday, reaching $35.06. The company’s stock had a trading volume of 2,127 shares, compared to its average volume of 896,371. BankUnited has a twelve month low of $32.34 and a twelve month high of $44.97. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.20 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.64.
BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. BankUnited had a return on equity of 11.47% and a net margin of 45.30%. The company had revenue of $287.24 million for the quarter, compared to analyst estimates of $285.63 million. During the same period in the prior year, the company posted $0.60 EPS. On average, equities analysts expect that BankUnited will post 3.33 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, October 15th. BankUnited’s payout ratio is 31.70%.
BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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