State of Alaska Department of Revenue Sells 12,199 Shares of BankUnited, Inc. $BKU

State of Alaska Department of Revenue lessened its position in BankUnited, Inc. (NYSE:BKU) by 44.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,947 shares of the financial services provider’s stock after selling 12,199 shares during the quarter. State of Alaska Department of Revenue’s holdings in BankUnited were worth $630,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. raised its stake in BankUnited by 21.9% during the 3rd quarter. Congress Asset Management Co. now owns 306,147 shares of the financial services provider’s stock valued at $12,919,000 after purchasing an additional 54,900 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of BankUnited in the first quarter valued at $6,797,000. BlackRock Inc. purchased a new stake in shares of BankUnited in the second quarter valued at $518,492,000. Squarepoint Ops LLC purchased a new stake in shares of BankUnited in the second quarter valued at $3,407,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of BankUnited in the second quarter worth $1,743,000. Institutional investors and hedge funds own 99.70% of the company’s stock.

BankUnited Stock Performance

Shares of BKU stock opened at $43.64 on Friday. BankUnited, Inc. has a fifty-two week low of $37.28 and a fifty-two week high of $52.11. The stock’s 50-day moving average is $44.28 and its two-hundred day moving average is $46.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $3.11 billion, a P/E ratio of 11.76 and a beta of 1.20.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.03. The business had revenue of $280.44 million during the quarter, compared to analyst estimates of $292.50 million. BankUnited had a return on equity of 9.36% and a net margin of 15.01%. During the same period in the previous year, the company earned $0.95 EPS. Analysts predict that BankUnited, Inc. will post 3.95 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 9th will be paid a $0.33 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. BankUnited’s payout ratio is 36.16%.

Insider Transactions at BankUnited

In other BankUnited news, Director Douglas Pauls sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 42,472 shares of the company’s stock, valued at $2,034,408.80. The trade was a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BKU has been the topic of a number of research analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of BankUnited in a report on Wednesday. Zacks Research lowered BankUnited from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Cantor Fitzgerald reduced their price objective on BankUnited from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. Hovde Group decreased their price objective on BankUnited from $53.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, September 14th. Finally, Jefferies Financial Group restated a “buy” rating on shares of BankUnited in a research report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, BankUnited presently has an average rating of “Hold” and an average target price of $49.18.

BankUnited Company Profile

BankUnited, Inc (NYSE:BKU) is the bank holding company for BankUnited, N.A., a full-service commercial bank headquartered in Miami Lakes, Florida. The company provides banking and financial services to businesses, institutions and individual customers, with an emphasis on commercial banking.

BankUnited offers commercial and industrial loans, commercial real estate and multifamily financing, residential lending, mortgage warehouse facilities, consumer loans and deposit products. Its services also include treasury management, cash management, online and mobile banking, wealth management and other financial solutions designed to support business and personal banking needs.

The bank primarily serves customers in Florida and the New York metropolitan area, while its commercial banking activities extend to selected markets in other parts of the United States.