Cramer Rosenthal Mcglynn LLC Boosts Stake in BankUnited, Inc. $BKU

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in BankUnited, Inc. by 64.9% during the first quarter, now holding 806,468 shares worth approximately $27.8 million, making it the firm's 13th biggest position.
• BankUnited's quarterly earnings report beat analysts' estimates, with an EPS of $0.91 compared to the consensus of $0.79, and the company also announced a quarterly dividend of $0.31 per share.
• The stock has seen positive analyst activity, with several firms raising their price targets, resulting in an average target price of $41.55 and an overall consensus rating of "Hold".

Cramer Rosenthal Mcglynn LLC lifted its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 64.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 806,468 shares of the financial services provider's stock after purchasing an additional 317,532 shares during the quarter. BankUnited comprises approximately 2.0% of Cramer Rosenthal Mcglynn LLC's portfolio, making the stock its 13th biggest position. Cramer Rosenthal Mcglynn LLC owned about 1.07% of BankUnited worth $27,775,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BKU. Brooklyn Investment Group lifted its holdings in shares of BankUnited by 14,050.0% in the 1st quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider's stock valued at $29,000 after buying an additional 843 shares during the period. Versant Capital Management Inc lifted its holdings 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 buying an additional 1,175 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BankUnited in the 4th quarter valued at approximately $73,000. Headlands Technologies LLC lifted its holdings in shares of BankUnited by 697.4% in the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider's stock valued at $85,000 after buying an additional 2,155 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of BankUnited in the 4th quarter valued at approximately $216,000. Hedge funds and other institutional investors own 99.70% of the company's stock.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the completion of the sale, the director owned 43,205 shares of the company's stock, valued at $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay D. Richards sold 3,942 shares of BankUnited stock in a transaction on Friday, July 25th. The shares were 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 approximately $1,521,080.33. This represents a 9.14% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.

BankUnited Trading Down 0.0%

Shares of NYSE:BKU traded down $0.01 during midday trading on Thursday, reaching $39.20. The company's stock had a trading volume of 581,866 shares, compared to its average volume of 664,731. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 11.50 and a beta of 1.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $44.45. The business has a 50 day moving average price of $37.14 and a 200 day moving average price of $35.34.

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

BankUnited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. BankUnited's payout ratio is currently 36.36%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BKU. Citigroup lifted their price objective on BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Jefferies Financial Group started coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price objective for the company. Keefe, Bruyette & Woods boosted their price target on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Royal Bank Of Canada reissued a "sector perform" rating on shares of BankUnited in a report on Thursday, July 24th. Finally, Hovde Group boosted their price target on BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, BankUnited presently has an average rating of "Hold" and an average target price of $41.55.

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.