Algert Global LLC Boosts Stake in BankUnited, Inc. $BKU

Key Points

• Algert Global LLC has increased its holdings in BankUnited, Inc. by 6.6%, now owning 376,307 shares valued at approximately $12.96 million.
• BankUnited's stock has received several analyst upgrades recently, with Barclays raising the price target from $41.00 to $43.00 and Wells Fargo increasing their target from $42.00 to $45.00.
• The company declared a quarterly dividend of $0.31, representing an annual yield of 3.3%, with a dividend payout ratio of 36.36%.

Algert Global LLC boosted its holdings in BankUnited, Inc. (NYSE:BKU - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 376,307 shares of the financial services provider's stock after buying an additional 23,367 shares during the quarter. Algert Global LLC owned approximately 0.50% of BankUnited worth $12,960,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock valued at $65,000 after buying an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BankUnited during the 4th quarter valued at $73,000. Headlands Technologies LLC boosted its holdings in shares of BankUnited by 697.4% during the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider's stock valued at $85,000 after acquiring an additional 2,155 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of BankUnited during the 4th quarter valued at $216,000. Finally, Aigen Investment Management LP acquired a new stake in shares of BankUnited during the 1st quarter valued at $231,000. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Stock Down 1.4%

BKU stock traded down $0.5110 during trading on Thursday, reaching $36.7890. 562,148 shares of the stock were exchanged, compared to its average volume of 822,373. The firm's 50 day moving average is $36.57 and its 200 day moving average is $35.43. BankUnited, Inc. has a twelve month low of $28.21 and a twelve month high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.77 billion, a P/E ratio of 10.79 and a beta of 1.32.

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

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 11th. BankUnited's dividend payout ratio is presently 36.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on BankUnited from $38.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Piper Sandler reiterated a "neutral" rating and set a $43.00 price target (up previously from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup lifted their price target on shares of BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of BankUnited from $38.00 to $34.00 and set a "sell" rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, BankUnited has an average rating of "Hold" and an average price target of $41.55.

Insider Transactions at BankUnited

In other news, insider Jay D. Richards sold 3,942 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the sale, the insider directly owned 39,193 shares of the company's stock, valued at $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director directly owned 14,516 shares of the company's stock, valued at approximately $499,785.88. This trade represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,442 shares of company stock valued at $323,184 over the last ninety days. 1.15% of the stock is currently owned by 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.