Lazard Asset Management LLC Sells 88,439 Shares of BankUnited, Inc. $BKU

Lazard Asset Management LLC trimmed its holdings in BankUnited, Inc. (NYSE:BKU) by 48.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,520 shares of the financial services provider’s stock after selling 88,439 shares during the quarter. Lazard Asset Management LLC owned about 0.13% of BankUnited worth $4,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Strs Ohio acquired a new stake in BankUnited during the first quarter worth approximately $28,000. Eurizon Capital SGR S.p.A. acquired a new position in BankUnited in the fourth quarter valued at approximately $30,000. Kestra Advisory Services LLC bought a new position in shares of BankUnited during the 4th quarter worth approximately $35,000. Quarry LP boosted its holdings in shares of BankUnited by 158.2% during the 3rd quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after buying an additional 576 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of BankUnited by 141.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider’s stock worth $54,000 after buying an additional 898 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.

BankUnited Price Performance

Shares of NYSE:BKU opened at $46.64 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. BankUnited, Inc. has a twelve month low of $34.79 and a twelve month high of $52.11. The stock’s 50 day moving average is $47.71 and its 200-day moving average is $47.07. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 12.78 and a beta of 1.17.

BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The firm had revenue of $284.57 million during the quarter, compared to the consensus estimate of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.BankUnited’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts forecast that BankUnited, Inc. will post 4.09 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited’s dividend payout ratio (DPR) is 36.16%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $56.00 price objective on shares of BankUnited in a research note on Wednesday, July 15th. Barclays reduced their price target on shares of BankUnited from $52.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, July 23rd. Hovde Group decreased their price target on shares of BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Jefferies Financial Group reiterated a “buy” rating on shares of BankUnited in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada cut their price objective on shares of BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.00.

Insider Transactions at BankUnited

In related news, Director John N. Digiacomo sold 1,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.97, for a total value of $45,970.00. Following the sale, the director owned 15,027 shares in the company, valued at $690,791.19. This represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jay D. Richards sold 4,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the sale, the insider owned 40,502 shares in the company, valued at $1,971,232.34. This represents a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by company insiders.

BankUnited Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.