Renaissance Technologies LLC Sells 59,800 Shares of BankUnited, Inc. (NYSE:BKU)

Renaissance Technologies LLC lessened its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 38.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,900 shares of the financial services provider's stock after selling 59,800 shares during the period. Renaissance Technologies LLC owned 0.13% of BankUnited worth $3,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BKU. JPMorgan Chase & Co. boosted its position in shares of BankUnited by 12.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider's stock worth $107,696,000 after purchasing an additional 322,368 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in BankUnited by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 362,487 shares of the financial services provider's stock worth $13,836,000 after acquiring an additional 10,064 shares in the last quarter. Proficio Capital Partners LLC bought a new position in BankUnited in the fourth quarter worth approximately $766,000. Bank of Montreal Can grew its stake in BankUnited by 4.1% in the fourth quarter. Bank of Montreal Can now owns 15,163 shares of the financial services provider's stock valued at $579,000 after acquiring an additional 593 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of BankUnited by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 9,598,953 shares of the financial services provider's stock valued at $366,392,000 after acquiring an additional 181,493 shares in the last quarter. 99.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKU has been the subject of a number of recent research reports. Piper Sandler upgraded shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price target for the company in a research note on Tuesday, March 11th. Wells Fargo & Company lowered their target price on shares of BankUnited from $50.00 to $42.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada lifted their price target on BankUnited from $42.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, January 23rd. Hovde Group lowered their price objective on BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Finally, Barclays cut their target price on BankUnited from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, BankUnited currently has an average rating of "Hold" and a consensus target price of $42.18.

Insider Transactions at BankUnited

In other news, insider Kevin A. Malcolm sold 3,234 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total transaction of $113,772.12. Following the transaction, the insider now directly owns 12,250 shares of the company's stock, valued at approximately $430,955. This trade represents a 20.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sanjiv Sobti bought 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $32.83 per share, with a total value of $32,830.00. Following the purchase, the director now owns 21,782 shares in the company, valued at $715,103.06. The trade was a 4.81 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.19% of the company's stock.

BankUnited Price Performance

Shares of NYSE BKU opened at $31.86 on Wednesday. BankUnited, Inc. has a twelve month low of $26.70 and a twelve month high of $44.45. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.40 billion, a P/E ratio of 10.34 and a beta of 1.20. The stock's 50-day simple moving average is $34.12 and its two-hundred day simple moving average is $37.37.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.19. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, equities analysts anticipate that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.24 annualized dividend and a yield of 3.89%. This is a positive change from BankUnited's previous quarterly dividend of $0.29. BankUnited's payout ratio is 40.26%.

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.

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