Empowered Funds LLC bought a new stake in BankUnited, Inc. (NYSE:BKU – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 331,287 shares of the financial services provider’s stock, valued at approximately $16,051,000.
Several other large investors have also modified their holdings of BKU. Allworth Financial LP acquired a new stake in shares of BankUnited during the second quarter worth $26,000. Eurizon Capital SGR S.p.A. acquired a new position in BankUnited in the 4th quarter valued at $30,000. Kestra Advisory Services LLC purchased a new position in BankUnited during the 4th quarter worth $35,000. Strs Ohio purchased a new position in BankUnited during the 1st quarter worth $28,000. Finally, Quarry LP lifted its stake in shares of BankUnited by 158.2% in the 3rd quarter. Quarry LP now owns 940 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 576 shares during the period. Hedge funds and other institutional investors own 99.70% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Citigroup lowered their target price on shares of BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a report on Friday, July 24th. Hovde Group reduced their price objective on shares of BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Royal Bank Of Canada lowered their price objective on BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of BankUnited in a research report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their target price on BankUnited from $51.00 to $49.00 and set a “market perform” rating on the stock in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.64.
Insiders Place Their Bets
In other BankUnited news, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the transaction, the director directly owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. This trade represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.97, for a total transaction of $45,970.00. Following the sale, the director owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 8,000 shares of company stock worth $384,350. 1.00% of the stock is owned by company insiders.
BankUnited Price Performance
Shares of NYSE BKU opened at $46.48 on Friday. The firm has a market capitalization of $3.31 billion, a P/E ratio of 12.73 and a beta of 1.18. BankUnited, Inc. has a one year low of $35.10 and a one year high of $52.11. The company’s fifty day moving average is $47.64 and its two-hundred day moving average is $46.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82.
BankUnited (NYSE:BKU – Get Free Report) last announced its quarterly 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 company had revenue of $284.57 million during the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Analysts forecast that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.
BankUnited Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited’s dividend payout ratio is presently 36.16%.
About BankUnited
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.
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