PNC Financial Services Group Inc. lowered its stake in BankUnited (NYSE:BKU) by 30.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,371 shares of the financial services provider’s stock after selling 59,044 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BankUnited were worth $4,756,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Seizert Capital Partners LLC bought a new stake in BankUnited in the third quarter worth $30,206,000. Bank of New York Mellon Corp boosted its holdings in BankUnited by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 572,414 shares of the financial services provider’s stock worth $20,263,000 after acquiring an additional 8,917 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in BankUnited by 84.7% in the third quarter. Janus Henderson Group PLC now owns 44,700 shares of the financial services provider’s stock worth $1,582,000 after acquiring an additional 20,500 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in BankUnited by 18.5% in the third quarter. Alliancebernstein L.P. now owns 3,018,425 shares of the financial services provider’s stock worth $106,852,000 after acquiring an additional 470,281 shares in the last quarter. Finally, Commonwealth Bank of Australia bought a new stake in BankUnited in the third quarter worth $290,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
Several research firms have commented on BKU. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $39.00 target price on shares of BankUnited in a report on Thursday, November 15th. BMO Capital Markets dropped their target price on BankUnited from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 5th. Stephens set a $40.00 target price on BankUnited and gave the stock a “buy” rating in a report on Friday, October 26th. Zacks Investment Research upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Finally, FIG Partners upgraded BankUnited from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.91.
BKU stock opened at $31.91 on Wednesday. BankUnited has a 1-year low of $29.86 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $3.56 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.97.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. The firm had revenue of $290.70 million during the quarter, compared to analysts’ expectations of $292.57 million. BankUnited had a return on equity of 11.89% and a net margin of 46.00%. During the same quarter in the previous year, the business earned $0.62 earnings per share. As a group, research analysts anticipate that BankUnited will post 3.36 EPS for the current fiscal year.
In related news, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $31.82, for a total transaction of $31,820.00. Following the completion of the sale, the insider now owns 24,118 shares in the company, valued at $767,434.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.
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BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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