Summit Global Investments raised its position in BankUnited, Inc. (NYSE:BKU – Free Report) by 298.0% in the first quarter, Holdings Channel reports. The fund owned 23,656 shares of the financial services provider’s stock after buying an additional 17,713 shares during the period. Summit Global Investments’ holdings in BankUnited were worth $1,068,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKU. Hantz Financial Services Inc. raised its holdings in shares of BankUnited by 21.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,472 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 255 shares in the last quarter. Covestor Ltd increased its holdings in BankUnited by 20.9% in the fourth quarter. Covestor Ltd now owns 1,673 shares of the financial services provider’s stock valued at $75,000 after buying an additional 289 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in BankUnited by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,213 shares of the financial services provider’s stock valued at $767,000 after buying an additional 300 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in BankUnited by 24.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider’s stock worth $81,000 after buying an additional 358 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of BankUnited by 2.4% during the 3rd quarter. Mackenzie Financial Corp now owns 19,550 shares of the financial services provider’s stock worth $746,000 after acquiring an additional 455 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.
Insiders Place Their Bets
In other news, Director John N. Digiacomo sold 1,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.97, for a total value of $45,970.00. Following the completion of the sale, the director directly owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay D. Richards sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the sale, the insider owned 40,502 shares of the company’s stock, valued at $1,971,232.34. This trade represents a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.
BankUnited Stock Performance
BankUnited (NYSE:BKU – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.14). The business had revenue of $273.69 million during the quarter, compared to analysts’ expectations of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same quarter last year, the company earned $0.78 EPS. As a group, equities analysts forecast that BankUnited, Inc. will post 4.16 earnings per share for the current year.
BankUnited Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $0.33 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. BankUnited’s payout ratio is currently 36.77%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $56.00 target price on shares of BankUnited in a research report on Wednesday, July 15th. Zacks Research upgraded shares of BankUnited from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 22nd. Hovde Group cut their price objective on shares of BankUnited from $57.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating on shares of BankUnited in a report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, BankUnited currently has an average rating of “Moderate Buy” and an average target price of $52.73.
Check Out Our Latest Stock Report on BKU
BankUnited Profile
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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