BankUnited, Inc. $BKU Stock Holdings Boosted by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in BankUnited during the first quarter, boosting its holdings by 4,572.7% to 25,653 shares valued at about $1.16 million.
• Other institutional investors also expanded positions, and institutions now own 99.70% of BankUnited’s stock, highlighting strong professional interest in the bank.
• BankUnited’s latest earnings slightly missed expectations, reporting $0.97 EPS versus the $1.00 consensus, while revenue came in at $284.57 million; the company also announced a quarterly dividend of $0.33 per share.

Fifth Third Bancorp raised its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 4,572.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,653 shares of the financial services provider's stock after purchasing an additional 25,104 shares during the quarter. Fifth Third Bancorp's holdings in BankUnited were worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. HoldCo Asset Management LP increased its position in BankUnited by 277.3% in the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider's stock valued at $157,568,000 after acquiring an additional 2,598,382 shares during the period. Artemis Investment Management LLP acquired a new position in BankUnited during the 4th quarter worth $73,655,000. Millennium Management LLC boosted its position 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 acquiring an additional 1,279,712 shares during the period. UBS Group AG grew its stake in shares of BankUnited by 398.0% in the fourth quarter. UBS Group AG now owns 1,170,378 shares of the financial services provider's stock worth $52,164,000 after purchasing an additional 935,370 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of BankUnited by 73.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider's stock worth $68,728,000 after purchasing an additional 652,926 shares in the last quarter. Institutional investors own 99.70% of the company's stock.

BankUnited Stock Performance

Shares of BKU opened at $46.39 on Friday. The firm's 50 day moving average is $47.67 and its 200-day moving average is $47.04. The stock has a market capitalization of $3.37 billion, a P/E ratio of 12.71 and a beta of 1.17. 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 12-month low of $34.79 and a 12-month high of $52.11.

BankUnited (NYSE:BKU - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.03). BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The business had revenue of $284.57 million during the quarter, compared to the consensus estimate of $290.33 million. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that BankUnited, Inc. will post 4.09 EPS for the current fiscal year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. BankUnited's dividend payout ratio is currently 36.16%.

Insider Buying and Selling at BankUnited

In other news, Director John N. Digiacomo sold 1,000 shares of the business's 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 directly owned 15,027 shares of the company's stock, valued at $690,791.19. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay D. Richards sold 4,000 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BKU shares. Keefe, Bruyette & Woods cut their price objective on shares of BankUnited from $55.00 to $50.00 and set a "market perform" rating on the stock in a research note on Thursday, April 23rd. Hovde Group lowered their target price on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Royal Bank Of Canada dropped their price target on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their target price on BankUnited from $50.00 to $55.00 and gave the stock an "overweight" rating in a report on Monday, March 30th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of BankUnited in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $52.00.

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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