Tdam USA Inc. Cuts Position in BankUnited, Inc. (NYSE:BKU)
Tdam USA Inc. cut its position in BankUnited, Inc. (NYSE:BKU) by 6.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,521 shares of the financial services provider’s stock after selling 4,247 shares during the period. Tdam USA Inc. owned 0.06% of BankUnited worth $2,209,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its position in BankUnited by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock worth $110,000 after buying an additional 128 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of BankUnited during the first quarter valued at about $222,000. Janney Montgomery Scott LLC boosted its position in shares of BankUnited by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 6,710 shares of the financial services provider’s stock valued at $226,000 after buying an additional 738 shares during the period. Worth Venture Partners LLC acquired a new position in shares of BankUnited during the first quarter valued at about $259,000. Finally, Nomura Holdings Inc. acquired a new position in shares of BankUnited during the first quarter valued at about $298,000. 99.90% of the stock is owned by institutional investors and hedge funds.
BankUnited, Inc. (BKU) traded down 0.48% on Friday, reaching $32.85. 401,859 shares of the company’s stock were exchanged. The company has a market capitalization of $3.51 billion, a P/E ratio of 14.70 and a beta of 1.07. BankUnited, Inc. has a 1-year low of $28.13 and a 1-year high of $41.00. The firm has a 50-day moving average price of $33.84 and a 200-day moving average price of $35.63.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million during the quarter, compared to the consensus estimate of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities research analysts expect that BankUnited, Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were issued a $0.21 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. BankUnited’s dividend payout ratio is presently 37.67%.
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Several research analysts recently issued reports on BKU shares. Morgan Stanley reissued an “overweight” rating and set a $39.00 target price (down previously from $40.00) on shares of BankUnited in a report on Thursday, July 6th. Deutsche Bank AG reissued a “buy” rating and set a $42.00 target price (down previously from $43.00) on shares of BankUnited in a report on Saturday, April 29th. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Bank of America Corporation reissued a “buy” rating and set a $46.00 target price on shares of BankUnited in a report on Monday, July 10th. Finally, Keefe, Bruyette & Woods raised shares of BankUnited from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $42.00 to $41.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.17.
In other news, Chairman John Adam Kanas sold 102,915 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $33.92, for a total value of $3,490,876.80. Following the completion of the transaction, the chairman now owns 1,145,155 shares in the company, valued at approximately $38,843,657.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the transaction, the insider now owns 29,000 shares of the company’s stock, valued at approximately $1,017,320. The disclosure for this sale can be found here. Insiders sold a total of 810,760 shares of company stock valued at $27,054,267 in the last quarter. Insiders own 5.10% of the company’s stock.
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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