Glenmede Trust Co. NA Sells 6,749 Shares of BankUnited, Inc. (NYSE:BKU)

Glenmede Trust Co. NA trimmed its stake in shares of BankUnited, Inc. (NYSE:BKU) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 482,291 shares of the financial services provider’s stock after selling 6,749 shares during the period. Glenmede Trust Co. NA’s holdings in BankUnited were worth $17,575,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BKU. Dimensional Fund Advisors LP boosted its position in BankUnited by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,583,059 shares of the financial services provider’s stock worth $134,144,000 after acquiring an additional 315,872 shares during the last quarter. Millennium Management LLC boosted its holdings in BankUnited by 49.2% during the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares during the last quarter. Assenagon Asset Management S.A. grew its position in BankUnited by 37.3% in the third quarter. Assenagon Asset Management S.A. now owns 868,806 shares of the financial services provider’s stock valued at $31,659,000 after purchasing an additional 236,174 shares in the last quarter. Bank of Montreal Can increased its stake in BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after buying an additional 559,720 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in BankUnited by 741.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock worth $11,628,000 after buying an additional 350,071 shares in the last quarter. 99.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BKU. Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $38.00 to $48.00 in a research report on Wednesday, November 13th. Wedbush upped their price objective on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Citigroup decreased their target price on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Barclays upped their price target on shares of BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.70.

Insider Activity

In other BankUnited news, insider Jay D. Richards sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the transaction, the insider now owns 34,687 shares in the company, valued at $1,428,410.66. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Cornish sold 10,778 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the sale, the chief operating officer now owns 100,000 shares of the company’s stock, valued at approximately $3,911,000. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

BankUnited Stock Down 0.7 %

Shares of BKU opened at $42.36 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 17.36 and a beta of 1.33. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.88 and a current ratio of 0.88. BankUnited, Inc. has a 52 week low of $24.34 and a 52 week high of $44.45. The firm’s 50-day simple moving average is $37.48 and its 200 day simple moving average is $34.40.

BankUnited (NYSE:BKU) last posted its 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 the consensus estimate of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, analysts forecast that BankUnited, Inc. will post 2.89 earnings per share for the current year.

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio is currently 47.54%.

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.