Burney Co. Invests $1.03 Million in BankUnited, Inc. $BKU

Key Points

• Burney Co. initiated a new position in BankUnited, buying 22,710 shares valued at about $1.03 million in the first quarter.
• BankUnited reported Q1 EPS of $0.83, missing analyst expectations of $0.97, while revenue also came in below estimates at $273.69 million.
• The bank declared a quarterly dividend of $0.33 per share, equal to a 2.8% annualized yield, even as some insiders recently sold shares and analysts maintained a Moderate Buy consensus.

Burney Co. acquired a new stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,710 shares of the financial services provider's stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HoldCo Asset Management LP lifted its position in shares of 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 valued at $157,568,000 after acquiring an additional 2,598,382 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in BankUnited in the 4th quarter worth about $73,655,000. Millennium Management LLC raised its holdings in shares of BankUnited by 1,066.9% in the fourth 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 period. UBS Group AG grew its position in BankUnited by 398.0% in the 4th quarter. UBS Group AG now owns 1,170,378 shares of the financial services provider's stock valued at $52,164,000 after acquiring an additional 935,370 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings 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 during the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

BankUnited Stock Performance

Shares of BKU stock opened at $47.61 on Thursday. BankUnited, Inc. has a 52-week low of $34.79 and a 52-week high of $52.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.46 billion, a PE ratio of 13.26 and a beta of 1.17. The business has a 50-day simple moving average of $47.38 and a 200-day simple moving average of $46.82.

BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results 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). BankUnited had a return on equity of 9.11% and a net margin of 14.46%.The company had revenue of $273.69 million for the quarter, compared to analyst estimates of $284.57 million. During the same period last year, the business earned $0.78 earnings per share. On average, equities analysts expect that BankUnited, Inc. will post 4.16 EPS for the current year.

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, July 10th. BankUnited's payout ratio is currently 36.77%.

Insiders Place Their Bets

In other news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.97, for a total value of $45,970.00. Following the completion of the sale, the director directly owned 15,027 shares in the company, valued at $690,791.19. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction 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 sale, the insider directly owned 40,502 shares in the company, valued at $1,971,232.34. This represents a 8.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BKU. Raymond James Financial reissued an "outperform" rating on shares of BankUnited in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of BankUnited from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Weiss Ratings raised BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their target price on shares of BankUnited from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, March 30th. Finally, Keefe, Bruyette & Woods reduced their target price on BankUnited from $55.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, BankUnited currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.73.

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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