Stifel Financial Corp Cuts Stock Position in BankUnited, Inc. (NYSE:BKU)

Stifel Financial Corp lessened its position in shares of BankUnited, Inc. (NYSE:BKU) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,613 shares of the financial services provider’s stock after selling 2,223 shares during the quarter. Stifel Financial Corp owned about 0.07% of BankUnited worth $1,881,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC grew its stake in BankUnited by 49.2% in the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of BankUnited by 3,901.0% in the second quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after buying an additional 559,720 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in BankUnited in the 3rd quarter worth $17,745,000. Point72 Asset Management L.P. increased its holdings in shares of BankUnited by 741.7% in the second quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock valued at $11,628,000 after purchasing an additional 350,071 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of BankUnited by 3,658.4% in the second quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock worth $9,537,000 after purchasing an additional 317,143 shares during the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

BankUnited Stock Up 1.8 %

BankUnited stock opened at $38.10 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 15.61 and a beta of 1.36. The stock’s fifty day simple moving average is $39.09 and its 200-day simple moving average is $35.68. BankUnited, Inc. has a twelve month low of $24.34 and a twelve month high of $44.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28.

BankUnited (NYSE:BKU) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. The business had revenue of $515.24 million during the quarter, compared to analysts’ expectations of $258.65 million. During the same quarter last year, the business posted $0.63 EPS. As a group, equities analysts expect that BankUnited, Inc. will post 2.89 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.04%. BankUnited’s payout ratio is currently 47.54%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of BankUnited from $38.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Citigroup decreased their target price on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Barclays cut their target price on shares of BankUnited from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday. Compass Point upped their price target on BankUnited from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Wedbush boosted their price objective on BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.36.

Insider Transactions at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at $3,911,000. This represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay D. Richards sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the transaction, the insider now owns 34,687 shares in the company, valued at approximately $1,428,410.66. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.19% of the company’s stock.

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.