Cubist Systematic Strategies LLC Raises Stake in BankUnited, Inc. $BKU

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in BankUnited, Inc. by 1,127.4% during the first quarter, owning approximately 0.44% of the company valued at $11.43 million.
• BankUnited recently reported an EPS of $0.91, exceeding analysts' expectations, and announced a quarterly dividend of $0.31 per share, contributing to a 3.2% dividend yield.
• Several analysts upgraded their price targets for BankUnited, with Hovde Group increasing it to $44.00 and a consensus rating of "Hold" with an average target of $41.55.

Cubist Systematic Strategies LLC grew its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 1,127.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,891 shares of the financial services provider's stock after purchasing an additional 304,851 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.44% of BankUnited worth $11,430,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in shares of BankUnited by 6.2% during the first quarter. American Century Companies Inc. now owns 1,849,271 shares of the financial services provider's stock valued at $63,689,000 after purchasing an additional 107,962 shares during the period. Ameriprise Financial Inc. lifted its stake in BankUnited by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 1,461,439 shares of the financial services provider's stock worth $50,332,000 after acquiring an additional 53,905 shares during the period. Royce & Associates LP lifted its stake in BankUnited by 8.8% in the first quarter. Royce & Associates LP now owns 1,250,997 shares of the financial services provider's stock worth $43,084,000 after acquiring an additional 101,170 shares during the period. Wellington Management Group LLP lifted its stake in BankUnited by 893.2% in the first quarter. Wellington Management Group LLP now owns 1,150,879 shares of the financial services provider's stock worth $39,636,000 after acquiring an additional 1,035,002 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in BankUnited by 36.8% in the first quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock worth $36,496,000 after acquiring an additional 285,092 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Douglas J. Pauls sold 3,500 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $38.79, for a total transaction of $135,765.00. Following the transaction, the director owned 43,205 shares in the company, valued at $1,675,921.95. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jay D. Richards sold 3,942 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $38.81, for a total transaction of $152,989.02. Following the transaction, the insider owned 39,193 shares in the company, valued at approximately $1,521,080.33. This trade represents a 9.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company's stock.

BankUnited Stock Performance

Shares of BankUnited stock opened at $39.17 on Tuesday. The company has a market capitalization of $2.95 billion, a PE ratio of 11.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day simple moving average of $37.34 and a two-hundred day simple moving average of $35.25. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. The business had revenue of $273.93 million during the quarter, compared to the consensus estimate of $267.17 million. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. During the same period in the previous year, the company posted $0.72 earnings per share. Research analysts expect that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, July 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.2%. BankUnited's dividend payout ratio is 36.36%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Hovde Group upped their price objective on shares of BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped their price objective on shares of BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. Barclays upped their price objective on shares of BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating and issued a $43.00 target price (up from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Finally, Citigroup boosted their target price on shares of BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BankUnited currently has a consensus rating of "Hold" and an average price target of $41.55.

About BankUnited

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.

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