Hsbc Holdings PLC Buys New Shares in BankUnited, Inc. $BKU

Hsbc Holdings PLC purchased a new stake in shares of BankUnited, Inc. (NYSE:BKU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 34,732 shares of the financial services provider’s stock, valued at approximately $1,670,000.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of BankUnited in a research report on Wednesday. Wells Fargo & Company began coverage on shares of BankUnited in a research note on Monday, August 10th. They set an “overweight” rating and a $54.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of BankUnited from $51.00 to $49.00 and set a “market perform” rating for the company in a research note on Monday, August 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $56.00 price objective on shares of BankUnited in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada cut their price objective on BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.64.

Insider Transactions at BankUnited

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

BankUnited Stock Up 0.2%

NYSE:BKU opened at $46.48 on Monday. The firm’s 50-day moving average price is $47.64 and its 200-day moving average price is $46.93. The company has a market capitalization of $3.31 billion, a PE ratio of 12.73 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. BankUnited, Inc. has a 1-year low of $35.10 and a 1-year high of $52.11.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business had revenue of $284.57 million for the quarter, compared to analysts’ expectations of $290.33 million. During the same period last year, the business earned $0.91 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited’s dividend payout ratio (DPR) is presently 36.16%.

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.