180,413 Shares in BankUnited, Inc. $BKU Bought by Legal & General Group Plc

Key Points

• Legal & General Group purchased 180,413 BankUnited shares worth approximately $8.7 million, while institutional investors collectively own 99.7% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $51.64; targets recently ranged from $42 to $54.
• BankUnited’s latest quarterly results fell slightly short of expectations, reporting $0.97 in EPS and $284.6 million in revenue, while the company maintains a quarterly dividend of $0.33 per share, yielding about 2.9%.

Legal & General Group Plc bought a new stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 180,413 shares of the financial services provider's stock, valued at approximately $8,741,000. Legal & General Group Plc owned approximately 0.25% of BankUnited as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BKU. BlackRock Inc. purchased a new stake in BankUnited in the second quarter worth about $518,492,000. Dimensional Fund Advisors LP grew its stake in shares of BankUnited by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider's stock valued at $210,390,000 after acquiring an additional 26,292 shares during the period. State Street Corp grew its stake in shares of BankUnited by 3.5% during the 4th quarter. State Street Corp now owns 4,437,792 shares of the financial services provider's stock valued at $197,792,000 after acquiring an additional 149,450 shares during the period. HoldCo Asset Management LP increased its holdings in BankUnited by 277.3% in the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider's stock worth $157,568,000 after acquiring an additional 2,598,382 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in BankUnited by 2.8% during the 4th quarter. Wellington Management Group LLP now owns 3,155,793 shares of the financial services provider's stock worth $140,654,000 after acquiring an additional 84,971 shares during the period. Institutional investors own 99.70% of the company's stock.

Insider Buying and Selling at BankUnited

In other news, insider Jay D. Richards sold 4,000 shares of the firm's 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 completion of the transaction, the insider owned 40,502 shares in the company, valued at $1,971,232.34. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's 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 transaction, the director owned 42,472 shares of the company's stock, valued at approximately $2,034,408.80. The trade was a 6.60% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays dropped their price target on shares of BankUnited from $50.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, August 3rd. Wells Fargo & Company started coverage on shares of BankUnited in a research note on Monday, August 10th. They set an "overweight" rating and a $54.00 target price on the stock. Citigroup dropped their target price on shares of BankUnited from $45.00 to $42.00 and set a "sell" rating for the company in a report on Friday, July 24th. Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Royal Bank Of Canada decreased their price target on BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, July 23rd. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $51.64.

BankUnited Trading Down 1.9%

BankUnited stock opened at $44.75 on Wednesday. The stock has a market cap of $3.19 billion, a P/E ratio of 12.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. BankUnited, Inc. has a 1 year low of $35.10 and a 1 year high of $52.11. The firm's 50 day moving average price is $47.49 and its 200-day moving average price is $46.87.

BankUnited (NYSE:BKU - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The company had revenue of $284.57 million during the quarter, compared to analysts' expectations of $290.33 million. During the same period last year, the firm posted $0.91 EPS. BankUnited's quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that BankUnited, Inc. will post 4.01 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, July 10th. BankUnited's payout ratio is currently 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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