Healthcare of Ontario Pension Plan Trust Fund Sells 103,854 Shares of BankUnited, Inc. $BKU

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 60.8% during the 1st quarter, HoldingsChannel reports. The fund owned 67,078 shares of the financial services provider’s stock after selling 103,854 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BankUnited were worth $3,029,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Sei Investments Co. boosted its stake in shares of BankUnited by 13.3% in the 1st quarter. Sei Investments Co. now owns 264,506 shares of the financial services provider’s stock valued at $11,945,000 after purchasing an additional 30,999 shares in the last quarter. State of Wyoming purchased a new position in BankUnited in the 1st quarter worth $66,000. First Trust Advisors LP lifted its stake in BankUnited by 18.4% in the first quarter. First Trust Advisors LP now owns 186,722 shares of the financial services provider’s stock worth $8,432,000 after purchasing an additional 29,069 shares during the last quarter. Summit Global Investments lifted its stake in BankUnited by 298.0% in the first quarter. Summit Global Investments now owns 23,656 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 17,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in BankUnited by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider’s stock valued at $210,390,000 after buying an additional 26,292 shares during the period. 99.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider directly owned 40,502 shares in the company, valued at approximately $1,971,232.34. This trade represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John N. Digiacomo sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.97, for a total value of $45,970.00. Following the completion of the sale, the director directly owned 15,027 shares in the company, valued at approximately $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BKU shares. Royal Bank Of Canada reduced their price objective on BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 23rd. Barclays dropped their target price on BankUnited from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Citigroup decreased their price target on BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $56.00 price objective on shares of BankUnited in a research report on Wednesday, July 15th. Finally, Hovde Group dropped their price objective on BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

BankUnited Stock Performance

Shares of BankUnited stock opened at $46.10 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.35 billion, a P/E ratio of 12.63 and a beta of 1.17. The business has a fifty day simple moving average of $47.71 and a two-hundred day simple moving average of $47.08. BankUnited, Inc. has a 12 month low of $34.79 and a 12 month high of $52.11.

BankUnited (NYSE:BKU) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The business had revenue of $284.57 million during the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. On average, equities analysts forecast that BankUnited, Inc. will post 4.09 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, July 10th. BankUnited’s dividend payout ratio is 36.16%.

BankUnited Company 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.