BlackRock Inc. purchased a new position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,701,583 shares of the financial services provider's stock, valued at approximately $518,492,000. BlackRock Inc. owned approximately 14.72% of BankUnited at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in BankUnited by 15.3% in the first quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider's stock worth $623,000 after buying an additional 2,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in BankUnited by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider's stock valued at $1,528,000 after acquiring an additional 1,934 shares in the last quarter. Jane Street Group LLC acquired a new stake in BankUnited in the first quarter valued at approximately $9,100,000. Strs Ohio acquired a new stake in BankUnited in the first quarter valued at approximately $28,000. Finally, Invesco Ltd. grew its position in BankUnited by 1.2% in the second quarter. Invesco Ltd. now owns 570,879 shares of the financial services provider's stock worth $20,318,000 after acquiring an additional 6,815 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of BankUnited in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Barclays cut their target price on BankUnited from $50.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Zacks Research cut BankUnited from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $51.64.
Check Out Our Latest Stock Report on BKU
Insider Buying and Selling at BankUnited
In related news, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the completion of the sale, the director owned 42,472 shares in the company, valued at $2,034,408.80. This represents a 6.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay D. Richards sold 4,000 shares of the firm'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 value of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares in the company, valued at $1,971,232.34. This trade represents a 8.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,000 shares of company stock worth $384,350 over the last ninety days. Company insiders own 1.00% of the company's stock.
BankUnited Trading Down 0.0%
NYSE:BKU opened at $46.31 on Tuesday. BankUnited, Inc. has a 12 month low of $35.10 and a 12 month high of $52.11. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 12.69 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. The company's 50 day moving average is $47.71 and its 200-day moving average is $47.04.
BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). The firm had revenue of $284.57 million for the quarter, compared to the consensus estimate of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.BankUnited's quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities analysts anticipate that BankUnited, Inc. will post 4.01 EPS for the current year.
BankUnited Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, July 10th. BankUnited's dividend payout ratio is 36.16%.
About BankUnited
(
Free Report)
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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