Insider Selling: BankUnited, Inc. (NYSE:BKU) COO Sells $421,527.58 in Stock

BankUnited, Inc. (NYSE:BKU) COO Thomas M. Cornish sold 10,778 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.11, for a total transaction of $421,527.58. Following the sale, the chief operating officer now directly owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

BankUnited Price Performance

Shares of NYSE BKU opened at $40.67 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.67 and a beta of 1.33. The firm’s 50 day simple moving average is $36.41 and its 200-day simple moving average is $33.51. BankUnited, Inc. has a 12 month low of $24.34 and a 12 month high of $41.65.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.74 by $0.07. The company had revenue of $515.24 million for the quarter, compared to analyst estimates of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same quarter last year, the business earned $0.63 earnings per share. Analysts expect that BankUnited, Inc. will post 2.85 EPS for the current year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.85%. BankUnited’s dividend payout ratio is presently 47.54%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $48.00 in a research report on Wednesday. Wedbush lifted their target price on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Hovde Group raised their price target on shares of BankUnited from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Finally, Barclays upped their price objective on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.40.

Hedge Funds Weigh In On BankUnited

A number of large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its position in shares of BankUnited by 8.2% in the second quarter. Assenagon Asset Management S.A. now owns 632,632 shares of the financial services provider’s stock valued at $18,517,000 after buying an additional 48,059 shares in the last quarter. Entropy Technologies LP purchased a new position in BankUnited during the first quarter valued at $1,463,000. Vanguard Group Inc. grew its position in shares of BankUnited by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock valued at $265,542,000 after purchasing an additional 280,993 shares during the period. Quadrature Capital Ltd increased its stake in shares of BankUnited by 145.8% during the first quarter. Quadrature Capital Ltd now owns 48,984 shares of the financial services provider’s stock worth $1,370,000 after purchasing an additional 29,058 shares in the last quarter. Finally, Caxton Associates LP increased its stake in shares of BankUnited by 202.7% during the first quarter. Caxton Associates LP now owns 60,570 shares of the financial services provider’s stock worth $1,696,000 after purchasing an additional 40,557 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

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.