Assenagon Asset Management S.A. Reduces Stake in BankUnited, Inc. (NYSE:BKU)

Assenagon Asset Management S.A. decreased its stake in BankUnited, Inc. (NYSE:BKU - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 293,848 shares of the financial services provider's stock after selling 76,294 shares during the period. Assenagon Asset Management S.A. owned 0.39% of BankUnited worth $10,120,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of BankUnited by 182.3% in the fourth quarter. Blue Trust Inc. now owns 847 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 547 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of BankUnited by 42.3% in 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 purchasing an additional 410 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of BankUnited by 165.5% in the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BankUnited in the 4th quarter valued at $73,000. Finally, Smartleaf Asset Management LLC raised its holdings in BankUnited by 270.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,927 shares of the financial services provider's stock valued at $74,000 after buying an additional 1,407 shares during the last quarter. Institutional investors own 99.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on BKU. Hovde Group lowered their price target on shares of BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of BankUnited from $50.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price objective on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods cut their price objective on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada dropped their price target on shares of BankUnited from $42.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, BankUnited presently has an average rating of "Hold" and an average target price of $40.42.

Insider Transactions at BankUnited

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the transaction, the director now directly owns 14,516 shares in the company, valued at approximately $499,785.88. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the transaction, the chief financial officer now owns 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. Corporate insiders own 1.15% of the company's stock.

BankUnited Price Performance

Shares of BankUnited stock traded down $1.04 on Friday, hitting $33.68. 567,853 shares of the company traded hands, compared to its average volume of 793,166. The business has a 50-day simple moving average of $33.50 and a 200 day simple moving average of $36.45. BankUnited, Inc. has a 52 week low of $26.88 and a 52 week high of $44.45. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market capitalization of $2.53 billion, a P/E ratio of 10.94 and a beta of 1.30.

BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $255.41 million during the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same period last year, the firm posted $0.64 earnings per share. Research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.68%. This is a positive change from BankUnited's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, April 11th. BankUnited's payout ratio is presently 38.51%.

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.