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

Bank of New York Mellon Corp grew its stake in BankUnited, Inc. (NYSE:BKU - Free Report) by 36.8% in the 1st quarter, according to the company in its most recent disclosure 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 filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in BankUnited by 2.7% during the first quarter. Principal Financial Group Inc. now owns 372,237 shares of the financial services provider's stock worth $12,820,000 after purchasing an additional 9,750 shares during the period. New York State Teachers Retirement System grew its stake in BankUnited by 20.6% during the first quarter. New York State Teachers Retirement System now owns 31,614 shares of the financial services provider's stock worth $1,089,000 after purchasing an additional 5,395 shares during the period. Illinois Municipal Retirement Fund grew its stake in BankUnited by 4.5% during the first quarter. Illinois Municipal Retirement Fund now owns 42,423 shares of the financial services provider's stock worth $1,461,000 after purchasing an additional 1,821 shares during the period. Oppenheimer Asset Management Inc. grew its stake in BankUnited by 58.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,878 shares of the financial services provider's stock worth $375,000 after purchasing an additional 4,002 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in BankUnited during the first quarter worth approximately $585,000. Institutional investors and hedge funds own 99.70% of the company's stock.

Wall Street Analyst Weigh In

BKU has been the subject of several recent analyst reports. Citigroup raised their target price on BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group decreased their target price on BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods cut their price target on BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada cut their price target on BankUnited from $42.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Finally, Barclays increased their price target on BankUnited from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, BankUnited has a consensus rating of "Hold" and a consensus target price of $40.58.

Insider Buying and Selling

In related news, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total transaction of $34,430.00. Following the sale, the director directly owned 14,516 shares in the company, valued at approximately $499,785.88. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Leslie Lunak sold 22,776 shares of BankUnited stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total value of $764,362.56. Following the sale, the chief financial officer owned 59,899 shares in the company, valued at $2,010,210.44. This trade represents a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.

BankUnited Stock Up 0.3%

Shares of BKU stock traded up $0.13 during trading hours on Friday, reaching $38.06. The company had a trading volume of 316,700 shares, compared to its average volume of 797,787. BankUnited, Inc. has a 12 month low of $28.21 and a 12 month high of $44.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day simple moving average of $35.42 and a 200-day simple moving average of $35.78. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 11.82 and a beta of 1.29.

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. BankUnited had a return on equity of 8.66% and a net margin of 12.26%. The company had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. During the same quarter last year, the company earned $0.64 earnings per share. On average, research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.26%. BankUnited's dividend payout ratio is presently 38.51%.

About BankUnited

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.