Royce & Associates LP trimmed its stake in shares of BankUnited, Inc. (NYSE:BKU – Free Report) by 12.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,089,238 shares of the financial services provider’s stock after selling 160,373 shares during the period. Royce & Associates LP’s holdings in BankUnited were worth $48,547,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of BankUnited during the first quarter valued at approximately $28,000. Quarry LP raised its holdings in shares of BankUnited by 158.2% during the third quarter. Quarry LP now owns 940 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 576 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of BankUnited by 202.0% during the third quarter. Hantz Financial Services Inc. now owns 1,217 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 814 shares during the last quarter. Covestor Ltd raised its holdings in shares of BankUnited by 7,588.9% during the third quarter. Covestor Ltd now owns 1,384 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of BankUnited by 4,293.5% during the third quarter. Jones Financial Companies Lllp now owns 1,362 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 1,331 shares during the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.
BankUnited Stock Up 0.1%
Shares of BKU stock opened at $46.27 on Tuesday. BankUnited, Inc. has a 12 month low of $33.06 and a 12 month high of $52.11. The stock has a market cap of $3.36 billion, a P/E ratio of 12.89 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The company has a 50 day simple moving average of $45.84 and a two-hundred day simple moving average of $45.64.
BankUnited Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Friday, April 10th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from BankUnited’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, April 10th. BankUnited’s dividend payout ratio is currently 36.77%.
Analyst Upgrades and Downgrades
BKU has been the subject of a number of research reports. Citigroup reduced their target price on shares of BankUnited from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Wall Street Zen raised shares of BankUnited from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial reaffirmed an “outperform” rating on shares of BankUnited in a report on Wednesday, April 22nd. Hovde Group reduced their target price on shares of BankUnited from $57.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Barclays reduced their target price on shares of BankUnited from $55.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, April 7th. Seven 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.27.
Read Our Latest Research Report on BankUnited
Insider Activity
In other news, insider Kevin A. Malcolm sold 3,447 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $47.11, for a total value of $162,388.17. Following the completion of the sale, the insider directly owned 11,500 shares of the company’s stock, valued at $541,765. This represents a 23.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.
BankUnited Profile
BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.
The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.
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