BankUnited, Inc. $BKU Shares Acquired by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its BankUnited stake by 21.9% in the third quarter, acquiring 54,900 additional shares and bringing its holdings to 306,147 shares valued at approximately $12.9 million. Institutional investors collectively own 99.7% of the company.
• Analysts remain mixed, with BankUnited carrying a consensus “Hold” rating and an average price target of $49.91 after several firms lowered their targets.
• BankUnited reported quarterly EPS of $0.97, below the $1.00 consensus estimate, while revenue rose 3.9% year over year. The company also declared a quarterly dividend of $0.33 per share, representing a 3.1% annualized yield.

Congress Asset Management Co. grew its position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,147 shares of the financial services provider's stock after purchasing an additional 54,900 shares during the quarter. Congress Asset Management Co. owned about 0.43% of BankUnited worth $12,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP bought a new position in shares of BankUnited in the 2nd quarter worth about $26,000. IFP Advisors Inc boosted its position in shares of BankUnited by 85.4% during the 2nd quarter. IFP Advisors Inc now owns 938 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 432 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in BankUnited during the second quarter worth approximately $49,000. Nykredit A S acquired a new stake in BankUnited during the second quarter worth approximately $59,000. Finally, Global Retirement Partners LLC bought a new stake in BankUnited in the second quarter worth approximately $66,000. Institutional investors and hedge funds own 99.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BKU shares. Wells Fargo & Company restated an "equal weight" rating and set a $47.00 price target (down from $54.00) on shares of BankUnited in a report on Tuesday, September 29th. Raymond James Financial dropped their target price on shares of BankUnited from $52.00 to $49.00 and set an "outperform" rating on the stock in a research report on Tuesday. Hovde Group cut their target price on shares of BankUnited from $53.00 to $52.00 and set an "outperform" rating on the stock in a research note on Monday, September 14th. Wall Street Zen upgraded shares of BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Royal Bank Of Canada decreased their price target on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, BankUnited has a consensus rating of "Hold" and a consensus price target of $49.91.

Insider Activity at BankUnited

In related news, Director Douglas Pauls sold 3,000 shares of BankUnited stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the sale, the director directly owned 42,472 shares in the company, valued at approximately $2,034,408.80. This trade represents a 6.60% 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. Insiders own 1.00% of the company's stock.

BankUnited Price Performance

BKU stock opened at $42.94 on Wednesday. BankUnited, Inc. has a 52-week low of $35.10 and a 52-week high of $52.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day simple moving average of $45.52 and a two-hundred day simple moving average of $46.46. The company has a market capitalization of $3.06 billion, a P/E ratio of 11.76 and a beta of 1.20.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The firm had revenue of $284.57 million during the quarter, compared to analysts' expectations of $290.33 million. During the same quarter in the prior year, the company earned $0.91 EPS. The business's revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts expect that BankUnited, Inc. will post 4 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 9th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.32 annualized dividend and a dividend yield of 3.1%. BankUnited's dividend payout ratio is currently 36.16%.

About BankUnited

BankUnited, Inc NYSE: BKU is the bank holding company for BankUnited, N.A., a regional financial institution headquartered in Miami Lakes, Florida. The bank serves businesses, professionals, institutions and individual consumers through a range of commercial and personal banking products.

BankUnited's offerings include commercial and industrial lending, commercial real estate financing, residential mortgage warehouse lending, consumer loans, checking and savings accounts, certificates of deposit, and treasury management services.

Want to see what other hedge funds are holding BKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BankUnited, Inc. (NYSE:BKU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.