718,897 Shares in BankUnited, Inc. $BKU Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 718,897 BankUnited shares in the second quarter, worth approximately $34.8 million and representing about 1.01% of the company. Institutional investors collectively own 99.70% of BankUnited.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $51.55; recent targets range from $48 to $54.
• BankUnited shares opened at $43.84, while the company’s latest quarterly results fell slightly short of expectations, reporting $0.97 in EPS versus the $1.00 consensus and $284.6 million in revenue.

Bank of America Corp DE acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 718,897 shares of the financial services provider's stock, valued at approximately $34,831,000. Bank of America Corp DE owned about 1.01% of BankUnited as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP bought a new stake in shares of BankUnited in the 2nd quarter valued at approximately $26,000. Eurizon Capital SGR S.p.A. bought a new position in BankUnited during the fourth quarter worth $30,000. Global Retirement Partners LLC lifted its stake in BankUnited by 17,050.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,372 shares of the financial services provider's stock worth $61,000 after purchasing an additional 1,364 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in BankUnited in the fourth quarter worth $63,000. Finally, State of Wyoming acquired a new position in BankUnited in the first quarter worth $66,000. Institutional investors and hedge funds own 99.70% of the company's stock.

Insider Buying and Selling

In other BankUnited news, Director Douglas Pauls sold 3,000 shares of BankUnited stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the sale, the director owned 42,472 shares of the company's stock, valued at $2,034,408.80. The trade was a 6.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BKU. Wells Fargo & Company assumed coverage on shares of BankUnited in a research report on Monday, August 10th. They issued an "overweight" rating and a $54.00 price target on the stock. Wall Street Zen raised shares of BankUnited from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Royal Bank Of Canada dropped their price objective on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of BankUnited in a report on Wednesday, August 26th. Finally, Barclays decreased their target price on BankUnited from $50.00 to $48.00 and set an "equal weight" rating for the company in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, BankUnited currently has a consensus rating of "Hold" and a consensus target price of $51.55.

BankUnited Trading Down 1.4%

Shares of NYSE:BKU opened at $43.84 on Wednesday. The company has a market cap of $3.12 billion, a PE ratio of 12.01 and a beta of 1.17. The company's 50-day moving average price is $46.40 and its 200 day moving average price is $46.52. BankUnited, Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $52.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly 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). The firm had revenue of $284.57 million during 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%. BankUnited's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Sell-side analysts anticipate that BankUnited, Inc. will post 4.01 earnings per share for the current year.

About BankUnited

BankUnited, Inc NYSE: BKU is the bank holding company for BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida. The company provides banking products and services to commercial and middle-market businesses, public-sector organizations, and individual consumers.

Its offerings include commercial and industrial lending, commercial real estate financing, residential and commercial mortgage lending, consumer loans, deposit accounts, treasury management, online and mobile banking, and other cash-management services.

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