Connor Clark & Lunn Investment Management Ltd. Sells 18,902 Shares of BankUnited, Inc. $BKU

Connor Clark & Lunn Investment Management Ltd. cut its holdings in BankUnited, Inc. (NYSE:BKU) by 56.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,648 shares of the financial services provider’s stock after selling 18,902 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BankUnited were worth $521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKU. Bayforest Capital Ltd boosted its stake in shares of BankUnited by 32.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock worth $40,000 after buying an additional 271 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in BankUnited by 1.4% during the second quarter. Maryland State Retirement & Pension System now owns 22,104 shares of the financial services provider’s stock worth $787,000 after acquiring an additional 304 shares in the last quarter. Yousif Capital Management LLC boosted its position in BankUnited by 1.2% during the second quarter. Yousif Capital Management LLC now owns 27,917 shares of the financial services provider’s stock valued at $994,000 after purchasing an additional 337 shares during the last quarter. Cerity Partners LLC grew its stake in BankUnited by 9.8% in the first quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 726 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of BankUnited during the 1st quarter worth approximately $28,000. 99.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group cut their price objective on BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, October 22nd. Piper Sandler reiterated a “neutral” rating and issued a $43.00 price target (up previously from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Hovde Group lifted their price objective on shares of BankUnited from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of BankUnited from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $42.00 target price on shares of BankUnited in a research note on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and a consensus price target of $41.91.

BankUnited Stock Performance

NYSE BKU opened at $39.81 on Thursday. The stock has a market cap of $2.99 billion, a PE ratio of 11.21 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.84 and a current ratio of 0.83. The firm has a 50-day moving average of $38.84 and a 200-day moving average of $37.22. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $44.45.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.11. The firm had revenue of $275.68 million for the quarter, compared to analysts’ expectations of $280.33 million. BankUnited had a net margin of 13.98% and a return on equity of 9.18%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. On average, sell-side analysts anticipate that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, October 10th. BankUnited’s dividend payout ratio (DPR) is presently 34.93%.

BankUnited Company Profile

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.