Allianz Asset Management GmbH Raises Stake in BankUnited, Inc. (NYSE:BKU)

Key Points

• Allianz Asset Management GmbH increased its stake in BankUnited, Inc. by 4.6%, owning approximately 0.28% of the company valued at $7.21 million as of the end of the last quarter.
• Analysts have mixed views on BankUnited, with ratings ranging from "sell" to "outperform," and an average target price of $41.55.
• BankUnited recently disclosed a quarterly dividend of $0.31 per share, reflecting an annualized yield of 3.25% and a dividend payout ratio of 36.36%.

Allianz Asset Management GmbH grew its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 4.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 209,343 shares of the financial services provider's stock after acquiring an additional 9,203 shares during the period. Allianz Asset Management GmbH owned 0.28% of BankUnited worth $7,210,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Balyasny Asset Management L.P. bought a new stake in shares of BankUnited in the 4th quarter worth approximately $34,525,000. Freestone Grove Partners LP bought a new stake in BankUnited during the 4th quarter valued at $30,499,000. Cramer Rosenthal Mcglynn LLC bought a new stake in BankUnited during the 4th quarter valued at $18,663,000. JPMorgan Chase & Co. raised its holdings in BankUnited by 12.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider's stock valued at $107,696,000 after acquiring an additional 322,368 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in BankUnited by 36.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock valued at $36,496,000 after acquiring an additional 285,092 shares during the period. 99.70% of the stock is owned by institutional investors.

Insider Activity

In other news, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total transaction of $34,430.00. Following the sale, the director owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jay D. Richards sold 3,942 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $38.81, for a total transaction of $152,989.02. Following the sale, the insider owned 39,193 shares in the company, valued at approximately $1,521,080.33. The trade was a 9.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,218 shares of company stock worth $1,087,547. Corporate insiders own 1.15% of the company's stock.

BankUnited Trading Down 1.8%

BKU stock traded down $0.68 during trading on Thursday, reaching $36.06. The company had a trading volume of 72,800 shares, compared to its average volume of 831,421. The company has a market cap of $2.71 billion, a P/E ratio of 10.58 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84. BankUnited, Inc. has a 52 week low of $28.21 and a 52 week high of $44.45. The business has a 50 day moving average of $35.90 and a 200 day moving average of $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 analysts' consensus estimates of $0.79 by $0.12. The business had revenue of $273.93 million for the quarter, compared to analysts' expectations of $267.17 million. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, sell-side analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, July 11th. BankUnited's payout ratio is 36.36%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BKU shares. Hovde Group boosted their target price on shares of BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Piper Sandler restated a "neutral" rating and set a $43.00 price target (up from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of BankUnited in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of BankUnited from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Barclays upped their target price on shares of BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $41.55.

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.