Invesco Ltd. Raises Position in BankUnited, Inc. $BKU

Key Points

• Invesco Ltd. increased its stake in BankUnited, Inc. by 56.9%, owning 564,064 shares worth approximately $19.4 million as of its latest SEC filing.
• Insider transactions saw Director Douglas J. Pauls and insider Jay D. Richards each selling shares, decreasing their ownership by 7.49% and 9.14%, respectively.
• BankUnited's earnings report showed earnings per share of $0.91, exceeding estimates, with a quarterly revenue of $273.93 million.

Invesco Ltd. lifted its holdings in BankUnited, Inc. (NYSE:BKU - Free Report) by 56.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 564,064 shares of the financial services provider's stock after purchasing an additional 204,523 shares during the quarter. Invesco Ltd. owned 0.75% of BankUnited worth $19,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after acquiring an additional 1,175 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BankUnited in the fourth quarter worth $73,000. Headlands Technologies LLC grew its holdings in shares of BankUnited by 697.4% in the first quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider's stock worth $85,000 after acquiring an additional 2,155 shares during the period. Marshall Wace LLP bought a new stake in shares of BankUnited in the fourth quarter worth $216,000. Finally, James Investment Research Inc. bought a new stake in shares of BankUnited in the first quarter worth $245,000. Hedge funds and other institutional investors own 99.70% of the company's stock.

BankUnited Price Performance

Shares of NYSE:BKU traded up $0.04 during mid-day trading on Wednesday, reaching $38.99. The stock had a trading volume of 18,255 shares, compared to its average volume of 813,420. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.93 billion, a P/E ratio of 11.44 and a beta of 1.32. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $44.45. The business's 50 day moving average price is $36.91 and its 200 day moving average price is $35.32.

BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. The company had revenue of $273.93 million for 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 period in the previous year, the business earned $0.72 earnings per share. Research analysts expect that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group cut their price objective on BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Hovde Group boosted their price target on BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group started coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price target for the company. Finally, Piper Sandler reissued a "neutral" rating and set a $43.00 price target (up previously from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating, seven have issued 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 a consensus target price of $41.55.

Insider Transactions at BankUnited

In related news, Director Douglas J. Pauls sold 3,500 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the sale, the director directly owned 43,205 shares in the company, valued at approximately $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay D. Richards sold 3,942 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the sale, the insider owned 39,193 shares in the company, valued at $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.

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.