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

Key Points

• Assenagon Asset Management sharply increased its stake in BankUnited, buying an additional 108,888 shares in Q1 and lifting its holdings by 169.2% to 173,249 shares worth about $7.8 million.
• BankUnited reported Q1 earnings below expectations, posting EPS of $0.83 versus the $0.97 consensus and revenue of $273.69 million versus $284.57 million estimated by analysts.
• The bank declared a quarterly dividend of $0.33 per share, equal to an annualized yield of about 2.7%, while analysts currently hold a consensus rating of Moderate Buy with an average price target of $53.27.

Assenagon Asset Management S.A. increased its holdings in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 169.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,249 shares of the financial services provider's stock after buying an additional 108,888 shares during the period. Assenagon Asset Management S.A. owned about 0.24% of BankUnited worth $7,824,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. HoldCo Asset Management LP lifted its position in shares of BankUnited by 277.3% during the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider's stock worth $157,568,000 after purchasing an additional 2,598,382 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in BankUnited during the 4th quarter worth about $73,655,000. Millennium Management LLC lifted its holdings in BankUnited by 1,066.9% during the 4th quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider's stock worth $62,383,000 after buying an additional 1,279,712 shares during the last quarter. UBS Group AG boosted its position in shares of BankUnited by 398.0% during the 4th quarter. UBS Group AG now owns 1,170,378 shares of the financial services provider's stock worth $52,164,000 after acquiring an additional 935,370 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of BankUnited by 73.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider's stock worth $68,728,000 after acquiring an additional 652,926 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors and hedge funds.

BankUnited Stock Up 0.1%

Shares of NYSE BKU opened at $49.30 on Monday. BankUnited, Inc. has a 12-month low of $34.79 and a 12-month high of $52.11. The company has a market capitalization of $3.58 billion, a PE ratio of 13.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.82 and a quick ratio of 0.82. The firm's 50-day moving average is $47.08 and its two-hundred day moving average is $46.65.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.14). The company had revenue of $273.69 million for the quarter, compared to analyst estimates of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same quarter last year, the company posted $0.78 EPS. Equities analysts anticipate that BankUnited, Inc. will post 4.16 EPS for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, July 10th. BankUnited's dividend payout ratio is currently 36.77%.

Analyst Ratings Changes

BKU has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price target on BankUnited from $55.00 to $50.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. Wall Street Zen cut BankUnited from a "hold" rating to a "sell" rating in a research note on Saturday. Hovde Group decreased their price objective on BankUnited from $57.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, April 23rd. Barclays decreased their price objective on BankUnited from $55.00 to $53.00 and set an "equal weight" rating for the company in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald lifted their target price on shares of BankUnited from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.27.

Insider Buying and Selling at BankUnited

In related news, 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 transaction of $45,970.00. Following the sale, the director owned 15,027 shares of the company's stock, valued at $690,791.19. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay D. Richards sold 4,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the transaction, the insider directly owned 40,502 shares of the company's stock, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

About BankUnited

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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