Bryce Point Capital LLC Buys Shares of 30,153 BankUnited, Inc. (NYSE:BKU)

Key Points

• Bryce Point Capital LLC acquired 30,153 shares of BankUnited, Inc. valued at approximately $1,058,000, making it the firm’s second-largest position.
• BankUnited recently declared a quarterly dividend of $0.31 per share, which will be paid on July 31st, representing a 3.22% dividend yield.
• Several brokerages have adjusted their price targets for BankUnited, with Hovde Group raising it from $43 to $44, while Goldman Sachs reduced theirs from $38 to $34.

Bryce Point Capital LLC bought a new position in BankUnited, Inc. (NYSE:BKU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,153 shares of the financial services provider's stock, valued at approximately $1,058,000. BankUnited comprises about 0.8% of Bryce Point Capital LLC's portfolio, making the stock its 2nd biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in BankUnited by 42.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 410 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of BankUnited by 165.5% during the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,175 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in BankUnited during the fourth quarter valued at approximately $73,000. Xponance Inc. acquired a new position in BankUnited in the 4th quarter valued at approximately $207,000. Finally, Marshall Wace LLP purchased a new stake in BankUnited in the 4th quarter worth approximately $216,000. 99.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on BKU shares. Wells Fargo & Company boosted their price target on shares of BankUnited from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Hovde Group boosted their target price on BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Piper Sandler reaffirmed a "neutral" rating and set a $43.00 price target (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Jefferies Financial Group began coverage on BankUnited in a research note on Wednesday, May 21st. They issued a "hold" rating and a $39.00 price target for the company. Finally, Keefe, Bruyette & Woods increased their price objective on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.55.

BankUnited Trading Down 0.7%

NYSE:BKU traded down $0.27 on Thursday, hitting $36.46. 241,806 shares of the stock were exchanged, compared to its average volume of 832,641. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 10.69 and a beta of 1.29. BankUnited, Inc. has a 52 week low of $28.21 and a 52 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. The company's 50-day moving average price is $35.90 and its 200 day moving average price is $35.78.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.12. The firm had revenue of $273.93 million during the quarter, compared to analysts' expectations of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%. During the same period in the previous year, the business posted $0.72 EPS. On average, equities research analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, July 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.40%. BankUnited's payout ratio is currently 36.36%.

Insider Buying and Selling

In other news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total transaction of $34,430.00. Following the completion of the transaction, the director directly owned 14,516 shares in the company, valued at approximately $499,785.88. The trade was a 6.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Leslie Lunak sold 22,776 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total value of $764,362.56. Following the completion of the transaction, the chief financial officer owned 59,899 shares of the company's stock, valued at $2,010,210.44. This represents a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,218 shares of company stock valued at $1,087,547 over the last 90 days. 1.15% of the stock is owned by corporate insiders.

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.