Public Sector Pension Investment Board Purchases 94,032 Shares of BankUnited, Inc. $BKU

Key Points

• The Public Sector Pension Investment Board increased its stake in BankUnited, Inc. by 50.5%, owning approximately 0.37% of the company, valued at $9.65 million after acquiring an additional 94,032 shares.
• BankUnited reported earnings of $0.91 per share, surpassing the consensus estimate of $0.79, alongside revenues of $273.93 million for the quarter.
• Institutional investors dominate BankUnited ownership, holding 99.70% of its stock, while recent analyst ratings suggest an average hold rating with a target price of $41.55.

Public Sector Pension Investment Board raised its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 50.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,298 shares of the financial services provider's stock after buying an additional 94,032 shares during the period. Public Sector Pension Investment Board owned about 0.37% of BankUnited worth $9,653,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BKU. Versant Capital Management Inc raised its position in 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. purchased a new stake in shares of BankUnited in the fourth quarter worth $73,000. Headlands Technologies LLC lifted its stake in shares of BankUnited by 697.4% during the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider's stock valued at $85,000 after buying an additional 2,155 shares in the last quarter. Marshall Wace LLP bought a new position in BankUnited in the 4th quarter worth $216,000. Finally, Aigen Investment Management LP purchased a new stake in BankUnited in the 1st quarter worth $231,000. Hedge funds and other institutional investors own 99.70% of the company's stock.

Analysts Set New Price Targets

BKU has been the topic of several research analyst reports. Hovde Group boosted their price objective on BankUnited from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group started coverage on BankUnited in a report on Wednesday, May 21st. They issued a "hold" rating and a $39.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a report on Wednesday, April 30th. Barclays boosted their target price on shares of BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their price target on shares of BankUnited from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $41.55.

Insider Buying and Selling at BankUnited

In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the sale, the director directly owned 43,205 shares in the company, valued at $1,675,921.95. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jay D. Richards sold 3,942 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the sale, the insider owned 39,193 shares in the company, valued at approximately $1,521,080.33. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,442 shares of company stock worth $323,184 over the last ninety days. Company insiders own 1.15% of the company's stock.

BankUnited Price Performance

Shares of BankUnited stock traded down $0.27 during trading hours on Monday, reaching $37.22. The company's stock had a trading volume of 162,502 shares, compared to its average volume of 825,765. The firm has a 50 day moving average price of $36.44 and a 200-day moving average price of $35.43. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $2.80 billion, a P/E ratio of 10.91 and a beta of 1.32.

BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. The firm had revenue of $273.93 million for the quarter, compared to the consensus estimate of $267.17 million. During the same period in the previous year, the firm posted $0.72 EPS. On average, analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.31 per share. The ex-dividend date was Friday, July 11th. This represents a $1.24 dividend on an annualized basis and a yield of 3.3%. BankUnited's dividend payout ratio is 36.36%.

BankUnited Company Profile

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.