BankUnited, Inc. $BKU Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its BankUnited stake by 47.2% in the second quarter, purchasing 81,741 additional shares and bringing its ownership to 254,990 shares, or 0.35% of the company. Institutional investors collectively own 99.70% of BKU.
• BankUnited’s latest quarterly results fell slightly short of expectations, with EPS of $0.97 versus a $1.00 consensus estimate and revenue of $284.57 million versus $290.33 million expected. Revenue still rose 3.9% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $51.64 price target. BKU recently traded at $46.24 and pays a quarterly dividend of $0.33, representing a 2.9% annualized yield.

Assenagon Asset Management S.A. raised its stake in BankUnited, Inc. (NYSE:BKU - Free Report) by 47.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 254,990 shares of the financial services provider's stock after purchasing an additional 81,741 shares during the period. Assenagon Asset Management S.A. owned 0.35% of BankUnited worth $12,354,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BKU. Hantz Financial Services Inc. increased its stake in BankUnited by 21.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,472 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 255 shares during the last quarter. Covestor Ltd raised its stake in BankUnited by 20.9% during the fourth quarter. Covestor Ltd now owns 1,673 shares of the financial services provider's stock worth $75,000 after acquiring an additional 289 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in BankUnited by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,213 shares of the financial services provider's stock worth $767,000 after acquiring an additional 300 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of BankUnited by 24.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider's stock worth $81,000 after purchasing an additional 358 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of BankUnited by 2.4% during the third quarter. Mackenzie Financial Corp now owns 19,550 shares of the financial services provider's stock valued at $746,000 after acquiring an additional 455 shares during the period. Institutional investors and hedge funds own 99.70% of the company's stock.

Insider Activity

In other BankUnited news, insider Jay D. Richards sold 4,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total value of $194,680.00. Following the completion of the sale, the insider owned 40,502 shares in the company, valued at $1,971,232.34. This represents a 8.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.97, for a total value of $45,970.00. Following the sale, the director owned 15,027 shares of the company's stock, valued at approximately $690,791.19. This represents a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on BKU. Zacks Research lowered shares of BankUnited from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings raised BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 29th. Raymond James Financial reissued an "outperform" rating on shares of BankUnited in a research note on Wednesday, April 22nd. Wells Fargo & Company started coverage on BankUnited in a report on Monday. They set an "overweight" rating and a $54.00 price target on the stock. Finally, Barclays cut their price objective on shares of BankUnited from $50.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $51.64.

BankUnited Stock Performance

Shares of BKU opened at $46.24 on Tuesday. The company has a 50-day moving average of $47.78 and a two-hundred day moving average of $47.13. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 12.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. BankUnited, Inc. has a one year low of $35.10 and a one year high of $52.11.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly 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 last year, the company posted $0.91 EPS. The firm's revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that BankUnited, Inc. will post 4.09 earnings per share for the current year.

BankUnited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited's dividend payout ratio is currently 36.16%.

BankUnited Company Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank's lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.

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