Neo Ivy Capital Management Sells 40,848 Shares of BankUnited, Inc. (NYSE:BKU)

Neo Ivy Capital Management cut its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 42.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,264 shares of the financial services provider’s stock after selling 40,848 shares during the period. Neo Ivy Capital Management’s holdings in BankUnited were worth $1,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in BankUnited by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,719,596 shares of the financial services provider’s stock worth $62,674,000 after purchasing an additional 20,218 shares in the last quarter. Barclays PLC grew its position in BankUnited by 48.3% in the 3rd quarter. Barclays PLC now owns 183,240 shares of the financial services provider’s stock worth $6,677,000 after purchasing an additional 59,644 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in BankUnited by 8.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 74,966 shares of the financial services provider’s stock worth $2,732,000 after purchasing an additional 6,087 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in BankUnited in the 3rd quarter worth about $1,261,000. Finally, MML Investors Services LLC bought a new stake in BankUnited in the 3rd quarter worth about $347,000. 99.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BankUnited news, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction that occurred 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 directly owns 100,000 shares in the company, valued at $3,911,000. This represents a 9.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 34,687 shares in the company, valued at $1,428,410.66. This represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.19% of the company’s stock.

BankUnited Stock Performance

Shares of BKU stock opened at $41.18 on Wednesday. The stock has a market capitalization of $3.08 billion, a P/E ratio of 16.88 and a beta of 1.36. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. The firm’s 50 day moving average is $38.46 and its 200 day moving average is $35.22. BankUnited, Inc. has a 12 month low of $24.34 and a 12 month high of $44.45.

BankUnited (NYSE:BKU) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $515.24 million for the quarter, compared to analysts’ expectations of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same period in the prior year, the company posted $0.63 EPS. On average, sell-side analysts anticipate that BankUnited, Inc. will post 2.89 earnings per share for the current year.

BankUnited Announces Dividend

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 $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, October 11th. BankUnited’s dividend payout ratio is presently 47.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BKU shares. Wells Fargo & Company raised shares of BankUnited from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $48.00 in a research report on Wednesday, November 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.00 price objective on shares of BankUnited in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wedbush boosted their target price on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Barclays boosted their target price on shares of BankUnited from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.45.

BankUnited Company 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.