Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 33,550 BankUnited, Inc. $BKU

Key Points

• Connor Clark & Lunn Investment Management Ltd. made a new investment of approximately $1.16 million in BankUnited, Inc., acquiring 33,550 shares during the first quarter.
• BankUnited reported a net margin of 13.19% and earnings per share of $0.91, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.31 per share, resulting in an annualized yield of 3.3%.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 33,550 shares of the financial services provider's stock, valued at approximately $1,155,000.

Several other large investors have also modified their holdings of the business. Balyasny Asset Management L.P. purchased a new stake in BankUnited in the 4th quarter valued at about $34,525,000. Freestone Grove Partners LP purchased a new position in BankUnited during the fourth quarter worth about $30,499,000. Bank of New York Mellon Corp increased its position in shares of BankUnited by 36.8% during the first quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock valued at $36,496,000 after acquiring an additional 285,092 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of BankUnited in the 4th quarter valued at approximately $10,163,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of BankUnited in the 4th quarter worth approximately $6,904,000. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Down 0.2%

BankUnited stock traded down $0.0860 during trading on Wednesday, reaching $37.1040. The stock had a trading volume of 124,072 shares, compared to its average volume of 821,941. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $44.45. The stock has a market cap of $2.79 billion, a PE ratio of 10.88 and a beta of 1.32. The business has a 50 day moving average price of $36.52 and a 200 day moving average price of $35.41.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, beating 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 company had revenue of $273.93 million for the quarter, compared to the consensus estimate of $267.17 million. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

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

Wall Street Analyst Weigh In

BKU has been the subject of several research reports. Barclays lifted their target price on shares of BankUnited from $41.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. Jefferies Financial Group started coverage on BankUnited in a research note on Wednesday, May 21st. They issued a "hold" rating and a $39.00 price objective for the company. Hovde Group increased their target price on BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. The Goldman Sachs Group lowered their target price on BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a report on Wednesday, April 30th. Finally, Piper Sandler reiterated a "neutral" rating and set a $43.00 price target (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $41.55.

Insiders Place Their Bets

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the sale, the insider owned 39,193 shares in the company, valued at approximately $1,521,080.33. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director directly owned 14,516 shares of the company's stock, valued at $499,785.88. The trade was a 6.44% 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 valued at $323,184 over the last quarter. Company insiders own 1.15% of the company's stock.

BankUnited 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.