Allianz Asset Management GmbH Acquires 154,460 Shares of BankUnited, Inc. $BKU

Allianz Asset Management GmbH raised its holdings in shares of BankUnited, Inc. (NYSE:BKU) by 73.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 363,803 shares of the financial services provider’s stock after acquiring an additional 154,460 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.48% of BankUnited worth $12,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strs Ohio bought a new position in BankUnited in the 1st quarter worth $28,000. Brooklyn Investment Group increased its position in BankUnited by 14,050.0% in the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock worth $29,000 after buying an additional 843 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of BankUnited by 32.3% in the second quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock worth $40,000 after buying an additional 271 shares during the period. Headlands Technologies LLC lifted its position in shares of BankUnited by 697.4% during the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock valued at $85,000 after buying an additional 2,155 shares in the last quarter. Finally, Quarry LP lifted its position in shares of BankUnited by 9,157.5% during the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider’s stock valued at $128,000 after buying an additional 3,663 shares in the last quarter. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

BankUnited Price Performance

Shares of NYSE:BKU opened at $36.97 on Tuesday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 10.84 and a beta of 1.27. The firm has a fifty day moving average price of $38.39 and a 200 day moving average price of $36.02. BankUnited, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $44.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84.

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

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, October 10th. BankUnited’s dividend payout ratio (DPR) is currently 36.36%.

Insider Buying and Selling

In other news, Director Douglas J. Pauls sold 3,500 shares of the company’s 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 sale, the director directly owned 43,205 shares of the company’s stock, valued at $1,675,921.95. This represents a 7.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 39,193 shares of the company’s stock, valued at $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BKU. Hovde Group increased their target price on shares of BankUnited from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of BankUnited in a research report on Thursday, July 24th. Citigroup increased their price objective on shares of BankUnited from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BankUnited in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and an average price target of $41.91.

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.