Teacher Retirement System of Texas Reduces Position in BankUnited Inc. (BKU)
Teacher Retirement System of Texas lowered its position in shares of BankUnited Inc. (NYSE:BKU) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,005 shares of the financial services provider’s stock after selling 3,435 shares during the period. Teacher Retirement System of Texas owned approximately 0.37% of BankUnited worth $11,537,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in BankUnited by 28.9% in the first quarter. Envestnet Asset Management Inc. now owns 56,529 shares of the financial services provider’s stock worth $1,947,000 after buying an additional 12,672 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in BankUnited by 8.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 53,206 shares of the financial services provider’s stock valued at $1,832,000 after buying an additional 4,289 shares in the last quarter. BlueMountain Capital Management LLC bought a new stake in BankUnited during the first quarter valued at about $248,000. First Financial Bank N.A. Trust Division raised its stake in BankUnited by 5.3% in the second quarter. First Financial Bank N.A. Trust Division now owns 96,531 shares of the financial services provider’s stock valued at $2,966,000 after buying an additional 4,843 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in BankUnited by 17.9% in the second quarter. GW&K Investment Management LLC now owns 319,737 shares of the financial services provider’s stock valued at $9,822,000 after buying an additional 48,476 shares in the last quarter. Institutional investors own 97.27% of the company’s stock.
Shares of BankUnited Inc. (NYSE:BKU) traded up 0.69% during trading on Tuesday, reaching $35.00. The company had a trading volume of 260,876 shares. BankUnited Inc. has a 52 week low of $27.85 and a 52 week high of $38.16. The company has a market capitalization of $3.64 billion, a PE ratio of 17.28 and a beta of 0.92. The stock’s 50-day moving average price is $31.17 and its 200-day moving average price is $31.17.
BankUnited (NYSE:BKU) last issued its earnings results on Thursday, October 20th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.06. BankUnited had a return on equity of 9.50% and a net margin of 19.35%. During the same period in the previous year, the business posted $0.50 earnings per share. On average, equities analysts expect that BankUnited Inc. will post $2.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 17th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.36%. BankUnited’s payout ratio is currently 41.58%.
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Several analysts have issued reports on BKU shares. Hovde Group lowered BankUnited from a “market perform” rating to an “underperform” rating and cut their price target for the company from $30.00 to $28.00 in a report on Thursday, September 1st. Barclays PLC cut their price target on BankUnited from $34.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, October 11th. TheStreet raised BankUnited from a “hold” rating to a “buy” rating in a report on Wednesday, November 9th. Finally, Zacks Investment Research raised BankUnited from a “sell” rating to a “hold” rating in a report on Monday, November 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.75.
In other BankUnited news, insider Jeffrey Starr sold 5,000 shares of BankUnited stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.20, for a total transaction of $156,000.00. Following the completion of the transaction, the insider now owns 34,000 shares in the company, valued at approximately $1,060,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene F. Demark sold 1,000 shares of BankUnited stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $29.53, for a total value of $29,530.00. Following the transaction, the director now owns 16,682 shares of the company’s stock, valued at approximately $492,619.46. The disclosure for this sale can be found here. Company insiders own 5.10% of the company’s stock.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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