Hsbc Holdings PLC Sells 97,619 Shares of BankUnited, Inc. (NYSE:BKU)

Posted by on Feb 26th, 2023

Hsbc Holdings PLC cut its stake in shares of BankUnited, Inc. (NYSE:BKU – Get Rating) by 48.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,201 shares of the financial services provider’s stock after selling 97,619 shares during the quarter. Hsbc Holdings PLC owned approximately 0.13% of BankUnited worth $3,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BKU. Infini Capital Management Ltd bought a new position in BankUnited during the second quarter worth $71,000. Eagle Bay Advisors LLC lifted its stake in shares of BankUnited by 73.8% in the second quarter. Eagle Bay Advisors LLC now owns 2,496 shares of the financial services provider’s stock valued at $89,000 after buying an additional 1,060 shares in the last quarter. Convergence Investment Partners LLC bought a new position in shares of BankUnited in the second quarter valued at $128,000. US Bancorp DE lifted its stake in shares of BankUnited by 347.0% in the first quarter. US Bancorp DE now owns 3,558 shares of the financial services provider’s stock valued at $157,000 after buying an additional 2,762 shares in the last quarter. Finally, Centiva Capital LP bought a new position in shares of BankUnited in the second quarter valued at $200,000.

BankUnited Stock Performance

NYSE BKU opened at $35.14 on Friday. BankUnited, Inc. has a 52-week low of $30.75 and a 52-week high of $45.86. The company has a 50-day simple moving average of $35.59 and a 200 day simple moving average of $36.18. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.63 billion, a PE ratio of 9.90 and a beta of 1.22.

BankUnited (NYSE:BKU – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.29). BankUnited had a return on equity of 11.08% and a net margin of 21.78%. The company had revenue of $269.88 million for the quarter, compared to analysts’ expectations of $268.41 million. On average, research analysts predict that BankUnited, Inc. will post 3.93 EPS for the current year.

BankUnited Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Wednesday, April 12th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Tuesday, April 11th. This is an increase from BankUnited’s previous quarterly dividend of $0.25. BankUnited’s dividend payout ratio (DPR) is 28.17%.

Analyst Upgrades and Downgrades

BKU has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of BankUnited from $35.00 to $32.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 13th. StockNews.com raised shares of BankUnited from a “sell” rating to a “hold” rating in a research report on Tuesday, February 21st. Finally, Wells Fargo & Company lowered shares of BankUnited from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $45.00 to $38.00 in a research report on Thursday, December 15th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.29.

BankUnited Profile

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BankUnited, Inc is a holding company, which engages in the provision of commercial and consumer banking services through its subsidiary, BankUnited, N.A.. Its services include corporate banking, commercial real estate, treasury management, business checking accounts, business online banking solutions, and home mortgages.

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Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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