Bank of New York Mellon Corp Acquires 285,092 Shares of BankUnited, Inc. (NYSE:BKU)

Bank of New York Mellon Corp increased its holdings in BankUnited, Inc. (NYSE:BKU - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,059,697 shares of the financial services provider's stock after buying an additional 285,092 shares during the period. Bank of New York Mellon Corp owned 1.41% of BankUnited worth $36,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BKU. Balyasny Asset Management L.P. bought a new position in BankUnited in the 4th quarter worth approximately $34,525,000. Freestone Grove Partners LP bought a new position in BankUnited in the 4th quarter worth approximately $30,499,000. Cramer Rosenthal Mcglynn LLC bought a new position in BankUnited in the 4th quarter worth approximately $18,663,000. JPMorgan Chase & Co. boosted its holdings in BankUnited by 12.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,821,480 shares of the financial services provider's stock worth $107,696,000 after buying an additional 322,368 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in BankUnited in the 4th quarter worth approximately $10,163,000. 99.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 transaction, the director owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were 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 owned 59,899 shares in the company, valued at $2,010,210.44. The trade was a 27.55% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on BKU. Keefe, Bruyette & Woods cut their price target on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Royal Bank Of Canada cut their price target on shares of BankUnited from $42.00 to $40.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Jefferies Financial Group began coverage on shares of BankUnited in a report on Wednesday, May 21st. They issued a "hold" rating and a $39.00 price target for the company. Wells Fargo & Company cut their price target on shares of BankUnited from $50.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Citigroup raised their price target on shares of BankUnited from $36.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, BankUnited presently has a consensus rating of "Hold" and a consensus price target of $40.58.

BankUnited Stock Performance

BankUnited stock opened at $37.72 on Tuesday. The stock has a market cap of $2.84 billion, a P/E ratio of 11.72 and a beta of 1.29. The firm's fifty day moving average price is $35.14 and its 200-day moving average price is $35.77. BankUnited, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $44.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.84 and a current ratio of 0.84.

BankUnited (NYSE:BKU - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The company had revenue of $255.41 million for the quarter, compared to analysts' expectations of $264.35 million. BankUnited had a net margin of 12.26% and a return on equity of 8.66%. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, July 11th. BankUnited's payout ratio is presently 38.51%.

BankUnited 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.

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