Corebridge Financial Inc. Decreases Stock Holdings in BankUnited, Inc. (NYSE:BKU)

Corebridge Financial Inc. lowered its stake in shares of BankUnited, Inc. (NYSE:BKU) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,714 shares of the financial services provider’s stock after selling 3,102 shares during the quarter. Corebridge Financial Inc. owned about 0.05% of BankUnited worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKU. Blue Trust Inc. grew its position in shares of BankUnited by 182.3% in the 4th quarter. Blue Trust Inc. now owns 847 shares of the financial services provider’s stock worth $31,000 after buying an additional 547 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in BankUnited by 270.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,927 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 1,407 shares in the last quarter. R Squared Ltd purchased a new position in BankUnited in the fourth quarter worth $113,000. KBC Group NV increased its position in shares of BankUnited by 87.8% during the fourth quarter. KBC Group NV now owns 4,028 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 1,883 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of BankUnited by 9.2% during the 4th quarter. GAMMA Investing LLC now owns 5,063 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Trading Up 1.5 %

NYSE BKU opened at $34.55 on Thursday. BankUnited, Inc. has a 1 year low of $24.34 and a 1 year high of $44.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.86 and a quick ratio of 0.88. The company has a market capitalization of $2.58 billion, a PE ratio of 11.22 and a beta of 1.40. The company has a fifty day moving average of $37.36 and a 200 day moving average of $37.99.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.19. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period in the previous year, the firm posted $0.26 earnings per share. Research analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from BankUnited’s previous quarterly dividend of $0.29. BankUnited’s dividend payout ratio is currently 40.26%.

Insider Transactions at BankUnited

In other news, insider Kevin A. Malcolm sold 3,234 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $35.18, for a total transaction of $113,772.12. Following the sale, the insider now directly owns 12,250 shares of the company’s stock, valued at $430,955. This represents a 20.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sanjiv Sobti purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $32.83 per share, with a total value of $32,830.00. Following the purchase, the director now owns 21,782 shares in the company, valued at $715,103.06. This represents a 4.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.19% of the company’s stock.

Wall Street Analysts Forecast Growth

BKU has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on BankUnited from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Barclays cut their price objective on shares of BankUnited from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Hovde Group dropped their target price on shares of BankUnited from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Royal Bank of Canada raised their price target on shares of BankUnited from $42.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, January 23rd. Finally, Piper Sandler raised shares of BankUnited from a “neutral” rating to an “overweight” rating and set a $41.00 price objective on the stock in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.45.

About BankUnited

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.