953,089 Shares in BankUnited, Inc. $BKU Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 953,089 BankUnited shares worth approximately $46.2 million, giving it a 1.31% stake. Institutional investors collectively own 99.70% of BankUnited.
• BankUnited reported quarterly EPS of $0.97, below the $1.00 analyst consensus, while revenue of $284.6 million also missed estimates but increased 3.9% year over year. The company pays a quarterly dividend of $0.33 per share, yielding about 2.8% annually.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $51.64. BankUnited shares recently traded at $46.61, while company insiders sold 8,000 shares over the past three months.

Bank of New York Mellon Corp purchased a new position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 953,089 shares of the financial services provider's stock, valued at approximately $46,177,000. Bank of New York Mellon Corp owned 1.31% of BankUnited as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State of Wyoming acquired a new position in BankUnited in the second quarter valued at $80,000. Summit Global Investments acquired a new stake in BankUnited during the second quarter worth about $1,189,000. Oppenheimer Asset Management Inc. acquired a new stake in BankUnited during the second quarter worth about $571,000. Assenagon Asset Management S.A. raised its holdings in shares of BankUnited by 47.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 254,990 shares of the financial services provider's stock worth $12,354,000 after purchasing an additional 81,741 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of BankUnited by 8.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,620 shares of the financial services provider's stock worth $321,000 after purchasing an additional 491 shares during the period. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Up 0.4%

Shares of NYSE:BKU opened at $46.61 on Friday. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 12.77 and a beta of 1.18. The company has a 50 day moving average of $47.65 and a two-hundred day moving average of $46.96. BankUnited, Inc. has a 52-week low of $35.10 and a 52-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 posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 9.13% and a net margin of 14.76%.The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, analysts forecast that BankUnited, Inc. will post 4.01 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were given a dividend of $0.33 per share. The ex-dividend date 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 currently 36.16%.

Insider Buying and Selling

In other BankUnited news, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the sale, the director directly owned 42,472 shares in the company, valued at approximately $2,034,408.80. This trade represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.97, for a total transaction of $45,970.00. Following the transaction, the director directly owned 15,027 shares of the company's stock, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,000 shares of company stock worth $384,350 in the last three months. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKU. Barclays dropped their price objective 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. Wall Street Zen upgraded shares of BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods decreased their price target on shares of BankUnited from $51.00 to $49.00 and set a "market perform" rating for the company in a research report on Monday, August 3rd. Zacks Research downgraded BankUnited from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Finally, Citigroup cut their price objective on BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.64.

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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