California State Teachers Retirement System Has $4.20 Million Stock Position in BankUnited, Inc. $BKU

Key Points

• California State Teachers Retirement System increased its BankUnited stake by 30.9% in the first quarter, ending with 92,927 shares valued at approximately $4.20 million. Institutional investors and hedge funds collectively own 99.70% of the company.
• BankUnited’s latest quarterly results fell slightly short of expectations, with earnings per share of $0.97 versus the $1.00 consensus estimate and revenue of $284.57 million versus $290.33 million expected. The company’s revenue still increased 3.9% year over year.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $51.73, compared with the stock’s reported price of $46.46. BankUnited also maintains a quarterly dividend of $0.33 per share, yielding about 2.8% annually.

California State Teachers Retirement System increased its holdings in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 92,927 shares of the financial services provider's stock after buying an additional 21,956 shares during the quarter. California State Teachers Retirement System owned 0.13% of BankUnited worth $4,197,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Artemis Investment Management LLP acquired a new position in BankUnited during the 4th quarter worth approximately $73,655,000. Horizon Investments LLC acquired a new stake in BankUnited in the fourth quarter valued at approximately $1,858,000. Burney Co. bought a new stake in shares of BankUnited during the first quarter worth $1,026,000. Fifth Third Bancorp grew its stake in shares of BankUnited by 4,572.7% during the first quarter. Fifth Third Bancorp now owns 25,653 shares of the financial services provider's stock worth $1,159,000 after buying an additional 25,104 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new position in shares of BankUnited during the fourth quarter worth $7,800,000. 99.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BankUnited

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the firm'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 completion of the transaction, the director owned 15,027 shares in the company, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares in the company, 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 company insiders.

BankUnited Stock Down 0.4%

Shares of BKU opened at $46.46 on Friday. The stock's 50-day moving average price is $47.77 and its two-hundred day moving average price is $47.13. BankUnited, Inc. has a 12 month low of $35.10 and a 12 month high of $52.11. The company has a market capitalization of $3.38 billion, a PE ratio of 12.73 and a beta of 1.18. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54.

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

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited's dividend payout ratio is currently 36.16%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BKU. Citigroup reduced their price objective on BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a research report on Friday, July 24th. Barclays cut their price target on BankUnited from $50.00 to $48.00 and set an "equal weight" rating on the stock in a research note on Monday, August 3rd. Hovde Group reduced their price target on BankUnited from $55.00 to $53.00 and set an "outperform" rating on the stock in a report on Monday, July 27th. Wall Street Zen raised BankUnited from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of BankUnited in a report on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $51.73.

BankUnited 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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