PEAK6 LLC bought a new position in shares of BankUnited, Inc. (NYSE:BKU – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,883 shares of the financial services provider’s stock, valued at approximately $963,000.
A number of other hedge funds also recently made changes to their positions in BKU. Hantz Financial Services Inc. boosted its position in shares of BankUnited by 21.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,472 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 255 shares in the last quarter. Covestor Ltd raised its position in BankUnited by 20.9% in the fourth quarter. Covestor Ltd now owns 1,673 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 289 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position 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 worth $767,000 after purchasing an additional 300 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in BankUnited by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 358 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in BankUnited by 2.4% during the third quarter. Mackenzie Financial Corp now owns 19,550 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 99.70% of the company’s stock.
Insider Buying and Selling
In related news, insider Jay D. Richards sold 4,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the transaction, the director owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. This represents a 6.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 8,000 shares of company stock valued at $384,350. Company insiders own 1.00% of the company’s stock.
BankUnited Stock Up 0.1%
BankUnited (NYSE:BKU – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). The firm had revenue of $284.57 million for the quarter, compared to analyst estimates of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. On average, equities research analysts forecast that BankUnited, Inc. will post 4.01 EPS for the current year.
BankUnited Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. BankUnited’s payout ratio is presently 36.16%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on BKU. Citigroup lowered their price objective on BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Wells Fargo & Company started coverage on BankUnited in a research note on Monday, August 10th. They issued an “overweight” rating and a $54.00 price target on the stock. Zacks Research cut BankUnited from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Hovde Group dropped their price objective on BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $56.00 price target on shares of BankUnited in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $51.64.
View Our Latest Research Report on BKU
BankUnited Company 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.
Read More
- Five stocks we like better than BankUnited
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Receive News & Ratings for BankUnited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BankUnited and related companies with MarketBeat.com's FREE daily email newsletter.
