Man Group plc cut its position in shares of BankUnited (NYSE:BKU) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,327 shares of the financial services provider’s stock after selling 12,978 shares during the quarter. Man Group plc owned 0.16% of BankUnited worth $5,747,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Clinton Group Inc. increased its holdings in BankUnited by 8.6% in the third quarter. Clinton Group Inc. now owns 18,759 shares of the financial services provider’s stock worth $664,000 after buying an additional 1,487 shares during the last quarter. NorthCoast Asset Management LLC grew its holdings in BankUnited by 4.4% during the second quarter. NorthCoast Asset Management LLC now owns 35,620 shares of the financial services provider’s stock valued at $1,455,000 after purchasing an additional 1,493 shares during the last quarter. Trexquant Investment LP grew its holdings in BankUnited by 9.4% during the third quarter. Trexquant Investment LP now owns 21,307 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 1,825 shares during the last quarter. GAM Holding AG grew its holdings in BankUnited by 12.4% during the third quarter. GAM Holding AG now owns 16,795 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Aristotle Capital Boston LLC grew its holdings in BankUnited by 1.7% during the third quarter. Aristotle Capital Boston LLC now owns 117,071 shares of the financial services provider’s stock valued at $4,144,000 after purchasing an additional 1,968 shares during the last quarter. 96.57% of the stock is owned by institutional investors.
BKU stock traded up $0.14 during midday trading on Wednesday, reaching $33.64. The stock had a trading volume of 2,272,897 shares, compared to its average volume of 1,027,140. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.61. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.36 and a beta of 1.04. BankUnited has a twelve month low of $28.05 and a twelve month high of $44.97.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $328.38 million during the quarter, compared to analyst estimates of $314.33 million. BankUnited had a return on equity of 11.89% and a net margin of 46.00%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Sell-side analysts predict that BankUnited will post 3.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, January 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, January 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.50%. BankUnited’s payout ratio is 31.70%.
In related news, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $31.82, for a total value of $31,820.00. Following the completion of the sale, the insider now directly owns 24,118 shares in the company, valued at $767,434.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by company insiders.
BKU has been the subject of several research reports. BMO Capital Markets reduced their price objective on BankUnited from $45.00 to $40.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. Zacks Investment Research cut BankUnited from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Bank of America cut BankUnited from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Thursday, January 10th. Barclays reduced their target price on BankUnited from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 target price on shares of BankUnited in a research report on Thursday, November 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. BankUnited presently has a consensus rating of “Hold” and an average price target of $41.00.
TRADEMARK VIOLATION NOTICE: This news story was published by Fairfield Current and is the property of of Fairfield Current. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.fairfieldcurrent.com/news/2019/01/23/man-group-plc-sells-12978-shares-of-bankunited-bku.html.
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.
Read More: What is the downside to momentum investing?
Receive News & Ratings for BankUnited Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BankUnited and related companies with MarketBeat.com’s FREE daily email newsletter.