Covestor Ltd Has $38,000 Stake in BankUnited, Inc. (NYSE:BKU)

Covestor Ltd trimmed its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 43.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,053 shares of the financial services provider’s stock after selling 799 shares during the period. Covestor Ltd’s holdings in BankUnited were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. WINTON GROUP Ltd raised its stake in shares of BankUnited by 0.9% during the second quarter. WINTON GROUP Ltd now owns 34,582 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 303 shares during the last quarter. Arizona State Retirement System raised its stake in shares of BankUnited by 1.9% during the second quarter. Arizona State Retirement System now owns 20,821 shares of the financial services provider’s stock worth $609,000 after buying an additional 379 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of BankUnited by 1.0% during the second quarter. Natixis Advisors LLC now owns 48,005 shares of the financial services provider’s stock worth $1,405,000 after buying an additional 497 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of BankUnited by 17.4% during the third quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after buying an additional 686 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of BankUnited by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 37,600 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 800 shares during the last quarter. 99.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company raised shares of BankUnited from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $48.00 in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Hovde Group upped their target price on shares of BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Finally, Wedbush upped their target price on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.40.

BankUnited Stock Performance

Shares of BKU opened at $40.71 on Friday. BankUnited, Inc. has a 12 month low of $24.34 and a 12 month high of $41.65. The firm has a fifty day simple moving average of $36.51 and a 200 day simple moving average of $33.60. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.68 and a beta of 1.33. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28.

BankUnited (NYSE:BKU) last announced its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. The business had revenue of $515.24 million during the quarter, compared to analysts’ expectations of $258.65 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Research analysts forecast that BankUnited, Inc. will post 2.85 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s payout ratio is 47.54%.

Insider Buying and Selling

In other BankUnited news, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the sale, the chief operating officer now owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.19% of the stock is currently owned by corporate insiders.

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.