Amalgamated Bank Sells 796 Shares of BankUnited, Inc. (NYSE:BKU)

Amalgamated Bank cut its stake in BankUnited, Inc. (NYSE:BKU) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,008 shares of the financial services provider’s stock after selling 796 shares during the quarter. Amalgamated Bank’s holdings in BankUnited were worth $802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BKU. Vanguard Group Inc. raised its holdings in BankUnited by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock worth $265,542,000 after purchasing an additional 280,993 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of BankUnited by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,583,059 shares of the financial services provider’s stock valued at $134,144,000 after acquiring an additional 315,872 shares during the last quarter. Millennium Management LLC lifted its position 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 buying an additional 740,896 shares during the last quarter. Assenagon Asset Management S.A. raised its position in BankUnited by 37.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 868,806 shares of the financial services provider’s stock worth $31,659,000 after purchasing an additional 236,174 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of BankUnited by 3,901.0% during the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after acquiring an additional 559,720 shares during the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

BankUnited Price Performance

Shares of NYSE BKU opened at $40.67 on Friday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 16.67 and a beta of 1.33. BankUnited, Inc. has a 52 week low of $24.34 and a 52 week high of $41.65. The firm has a 50-day simple moving average of $36.41 and a 200-day simple moving average of $33.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.28.

BankUnited (NYSE:BKU) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The business 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 period last year, the company posted $0.63 EPS. On average, equities analysts predict that BankUnited, Inc. will post 2.85 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio (DPR) is presently 47.54%.

Analyst Ratings Changes

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

Insider Activity

In other BankUnited news, COO Thomas M. Cornish sold 10,778 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $39.11, for a total transaction of $421,527.58. Following the completion of the sale, the chief operating officer now owns 100,000 shares of the company’s stock, valued at $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.19% of the company’s stock.

BankUnited 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.