Principal Financial Group Inc. Has $32.65 Million Stake in BankUnited, Inc. (NYSE:BKU)

Principal Financial Group Inc. decreased its holdings in BankUnited, Inc. (NYSE:BKU) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 780,631 shares of the financial services provider’s stock after selling 15,677 shares during the quarter. Principal Financial Group Inc. owned approximately 0.88% of BankUnited worth $32,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can raised its position in BankUnited by 0.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 80,285 shares of the financial services provider’s stock valued at $3,425,000 after purchasing an additional 265 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in BankUnited by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,073 shares of the financial services provider’s stock valued at $2,180,000 after purchasing an additional 404 shares during the last quarter. Envestnet Asset Management Inc. raised its position in BankUnited by 3.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 12,956 shares of the financial services provider’s stock valued at $553,000 after purchasing an additional 410 shares during the last quarter. Toronto Dominion Bank raised its position in shares of BankUnited by 35.4% during the second quarter. Toronto Dominion Bank now owns 2,009 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 525 shares during the last quarter. Finally, Paloma Partners Management Co raised its position in shares of BankUnited by 9.0% during the second quarter. Paloma Partners Management Co now owns 6,360 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 527 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

A number of brokerages recently commented on BKU. Morgan Stanley lifted their price objective on BankUnited from $49.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Monday, December 6th. Royal Bank of Canada cut BankUnited from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $47.00 to $45.00 in a research note on Friday, October 22nd. Piper Sandler cut BankUnited from an “overweight” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Thursday, October 21st. Finally, Wells Fargo & Company decreased their target price on BankUnited from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 7th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BankUnited currently has an average rating of “Buy” and an average target price of $48.63.

BKU opened at $46.37 on Friday. BankUnited, Inc. has a 52-week low of $34.01 and a 52-week high of $50.71. The firm has a market capitalization of $4.13 billion, a PE ratio of 11.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day simple moving average is $42.47 and its 200 day simple moving average is $41.73.

BankUnited (NYSE:BKU) last released its earnings results on Wednesday, October 20th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. BankUnited had a return on equity of 12.21% and a net margin of 34.24%. The business had revenue of $220.60 million for the quarter, compared to analyst estimates of $232.51 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, research analysts forecast that BankUnited, Inc. will post 4.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Friday, January 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $0.92 annualized dividend and a yield of 1.98%. BankUnited’s dividend payout ratio is 23.00%.

About BankUnited

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 services, 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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