Teacher Retirement System of Texas Reduces Position in BankUnited Inc. (BKU)
Teacher Retirement System of Texas decreased its position in shares of BankUnited Inc. (NYSE:BKU) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 382,005 shares of the financial services provider’s stock after selling 3,435 shares during the period. Teacher Retirement System of Texas’ holdings in BankUnited were worth $11,537,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in BKU. Envestnet Asset Management Inc. raised its position in BankUnited by 28.9% in the first quarter. Envestnet Asset Management Inc. now owns 56,529 shares of the financial services provider’s stock worth $1,947,000 after buying an additional 12,672 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in BankUnited by 8.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 53,206 shares of the financial services provider’s stock worth $1,832,000 after buying an additional 4,289 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in BankUnited during the first quarter worth $248,000. First Financial Bank N.A. Trust Division raised its position in BankUnited by 5.3% in the second quarter. First Financial Bank N.A. Trust Division now owns 96,531 shares of the financial services provider’s stock worth $2,966,000 after buying an additional 4,843 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in BankUnited by 17.9% in the second quarter. GW&K Investment Management LLC now owns 319,737 shares of the financial services provider’s stock worth $9,822,000 after buying an additional 48,476 shares during the last quarter. Institutional investors and hedge funds own 97.27% of the company’s stock.
Shares of BankUnited Inc. (NYSE:BKU) traded up 0.69% on Tuesday, hitting $35.00. The stock had a trading volume of 260,876 shares. The company’s 50 day moving average is $31.17 and its 200 day moving average is $31.17. BankUnited Inc. has a one year low of $27.85 and a one year high of $38.16. The stock has a market cap of $3.64 billion, a PE ratio of 17.28 and a beta of 0.92.
BankUnited (NYSE:BKU) last announced its earnings results on Thursday, October 20th. The financial services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.06. BankUnited had a return on equity of 9.50% and a net margin of 19.35%. During the same quarter last year, the company posted $0.50 EPS. Equities research analysts predict that BankUnited Inc. will post $2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Monday, October 17th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, October 13th. This represents a $0.84 annualized dividend and a yield of 2.36%. BankUnited’s dividend payout ratio is currently 41.58%.
BKU has been the subject of a number of recent research reports. Hovde Group lowered BankUnited from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $30.00 to $28.00 in a research note on Thursday, September 1st. Barclays PLC cut their price target on BankUnited from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 11th. TheStreet upgraded BankUnited from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. Finally, Zacks Investment Research upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Monday, November 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $34.75.
In related news, Director Eugene F. Demark sold 1,000 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $29.53, for a total transaction of $29,530.00. Following the completion of the transaction, the director now directly owns 16,682 shares of the company’s stock, valued at $492,619.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Starr sold 5,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $31.20, for a total transaction of $156,000.00. Following the transaction, the insider now directly owns 34,000 shares of the company’s stock, valued at $1,060,800. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
BankUnited, Inc is the bank holding company of BankUnited, National Association (the Bank). The Bank provides a range of banking services to individual and corporate customers through approximately 100 branches. The Company offers a range of lending products, including small business loans, commercial real estate loans, equipment loans and leases, term loans, formula-based loans, municipal loans and leases, commercial lines of credit, letters of credit and consumer loans.
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