Bank of New York Mellon Corp Trims Stake in BankUnited, Inc. (BKU)
Bank of New York Mellon Corp cut its stake in shares of BankUnited, Inc. (NYSE:BKU) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 552,785 shares of the financial services provider’s stock after selling 335 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.52% of BankUnited worth $18,634,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its position in shares of BankUnited by 4.1% during 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 acquiring an additional 128 shares during the period. Karp Capital Management Corp purchased a new position in shares of BankUnited during the first quarter worth approximately $222,000. Janney Montgomery Scott LLC increased its position in shares of BankUnited by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 6,710 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 738 shares during the period. Nomura Holdings Inc. purchased a new position in shares of BankUnited during the first quarter worth approximately $298,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of BankUnited during the first quarter worth approximately $381,000. 98.24% of the stock is currently owned by institutional investors and hedge funds.
BKU has been the topic of a number of research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $46.00 target price on shares of BankUnited in a research report on Monday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $39.00 target price (down from $40.00) on shares of BankUnited in a research report on Thursday, July 6th. Wedbush reaffirmed a “neutral” rating and set a $35.00 target price on shares of BankUnited in a research report on Tuesday, June 27th. BidaskClub raised shares of BankUnited from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $41.00 target price on shares of BankUnited in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $41.17.
BankUnited, Inc. (NYSE BKU) opened at 32.82 on Monday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.68 and a beta of 1.07. BankUnited, Inc. has a one year low of $28.13 and a one year high of $41.00. The company’s 50-day moving average is $33.37 and its 200 day moving average is $34.73.
BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The firm had revenue of $269.48 million for the quarter, compared to the consensus estimate of $258.47 million. During the same period in the prior year, the firm earned $0.52 EPS. Equities analysts expect that BankUnited, Inc. will post $2.38 EPS for the current year.
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In related news, Chairman John Adam Kanas sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $32.65, for a total transaction of $6,530,000.00. Following the sale, the chairman now directly owns 948,070 shares of the company’s stock, valued at approximately $30,954,485.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Starr sold 7,445 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $35.08, for a total transaction of $261,170.60. Following the sale, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 586,035 shares of company stock worth $19,373,735. 5.10% of the stock is owned by insiders.
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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