Connor Clark & Lunn Investment Management Ltd. Makes New $1.16 Million Investment in BankUnited, Inc. (NYSE:BKU)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in BankUnited, Inc. (NYSE:BKU) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,550 shares of the financial services provider’s stock, valued at approximately $1,155,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKU. Versant Capital Management Inc grew its holdings in BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,175 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BankUnited in the fourth quarter worth about $73,000. Headlands Technologies LLC grew its holdings in BankUnited by 697.4% in the first quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 2,155 shares during the period. Marshall Wace LLP purchased a new stake in BankUnited in the fourth quarter worth about $216,000. Finally, James Investment Research Inc. purchased a new stake in BankUnited in the first quarter worth about $245,000. Hedge funds and other institutional investors own 99.70% of the company’s stock.

BankUnited Trading Down 1.8%

Shares of BKU stock opened at $37.57 on Friday. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $36.44 and its 200 day moving average is $35.47. The stock has a market capitalization of $2.83 billion, a P/E ratio of 11.02 and a beta of 1.32.

BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. The company had revenue of $273.93 million for the quarter, compared to analysts’ expectations of $267.17 million. During the same quarter last year, the company posted $0.72 earnings per share. Research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were issued a $0.31 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.24 annualized dividend and a yield of 3.3%. BankUnited’s dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the transaction, the insider directly owned 39,193 shares in the company, valued at approximately $1,521,080.33. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the completion of the transaction, the director owned 43,205 shares in the company, valued at $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,442 shares of company stock worth $323,184. 1.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BKU has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of BankUnited in a report on Wednesday, May 21st. They issued a “hold” rating and a $39.00 price objective on the stock. Hovde Group raised their price target on shares of BankUnited from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. The Goldman Sachs Group reduced their price target on shares of BankUnited from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price target on shares of BankUnited from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of BankUnited in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.55.

About BankUnited

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.