Bridgeway Capital Management LLC Buys 22,236 Shares of BankUnited, Inc. $BKU

Key Points

• Bridgeway Capital Management increased its BankUnited stake by 4.9% in the fourth quarter, buying 22,236 additional shares and bringing its holdings to 477,881 shares worth about $21.3 million.
• Institutional ownership remains very high, with several other hedge funds also making large moves in BankUnited; institutions now own 99.70% of the stock.
• BankUnited reported mixed fundamentals: quarterly EPS and revenue both missed analyst expectations, while the company also raised its quarterly dividend to $0.33 per share, implying a 2.8% yield.

Bridgeway Capital Management LLC boosted its stake in BankUnited, Inc. (NYSE:BKU - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 477,881 shares of the financial services provider's stock after acquiring an additional 22,236 shares during the period. Bridgeway Capital Management LLC owned 0.64% of BankUnited worth $21,299,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in BKU. HoldCo Asset Management LP raised its position in BankUnited by 277.3% in the fourth quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider's stock worth $157,568,000 after acquiring an additional 2,598,382 shares during the period. Artemis Investment Management LLP purchased a new position in shares of BankUnited in the fourth quarter worth about $73,655,000. UBS Group AG increased 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. Wellington Management Group LLP increased its stake in shares of BankUnited by 23.1% in the third quarter. Wellington Management Group LLP now owns 3,070,822 shares of the financial services provider's stock worth $117,183,000 after purchasing an additional 576,843 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of BankUnited in the fourth quarter worth about $15,687,000. Institutional investors own 99.70% of the company's stock.

Insider Activity at BankUnited

In related news, 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 owned 40,502 shares of the company's stock, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.97, for a total transaction of $45,970.00. Following the transaction, the director directly owned 15,027 shares of the company's stock, valued at approximately $690,791.19. This represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of BankUnited from $55.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, April 23rd. Hovde Group reduced their target price on shares of BankUnited from $57.00 to $53.00 and set an "outperform" rating for the company in a research note on Thursday, April 23rd. Zacks Research downgraded shares of BankUnited from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 14th. Citigroup reduced their target price on shares of BankUnited from $53.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Finally, Barclays reduced their target price on shares of BankUnited from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 7th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $53.27.

BankUnited Price Performance

Shares of NYSE:BKU opened at $46.79 on Thursday. The company has a 50 day moving average of $46.81 and a 200 day moving average of $46.43. The stock has a market cap of $3.40 billion, a P/E ratio of 13.03 and a beta of 1.17. BankUnited, Inc. has a 12 month low of $33.33 and a 12 month high of $52.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.83 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.14). The firm had revenue of $273.69 million for the quarter, compared to analysts' expectations of $284.57 million. BankUnited had a net margin of 14.46% and a return on equity of 9.11%. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that BankUnited, Inc. will post 4.16 EPS for the current fiscal year.

BankUnited Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Friday, April 10th were paid a dividend of $0.33 per share. This is an increase from BankUnited's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, April 10th. BankUnited's dividend payout ratio is presently 36.77%.

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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