Deutsche Bank AG acquired a new position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 77,953 shares of the financial services provider's stock, valued at approximately $3,777,000. Deutsche Bank AG owned approximately 0.11% of BankUnited at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of BankUnited during the 1st quarter valued at approximately $28,000. Eurizon Capital SGR S.p.A. purchased a new position in BankUnited in the 4th quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in BankUnited in the 4th quarter valued at approximately $35,000. Quarry LP raised its holdings in BankUnited by 158.2% during the third quarter. Quarry LP now owns 940 shares of the financial services provider's stock worth $36,000 after purchasing an additional 576 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in BankUnited by 141.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,531 shares of the financial services provider's stock worth $54,000 after purchasing an additional 898 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director John N. Digiacomo sold 1,000 shares of the company'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 owned 15,027 shares of the company's stock, valued at approximately $690,791.19. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the sale, the director owned 42,472 shares in the company, valued at approximately $2,034,408.80. This trade represents a 6.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,000 shares of company stock valued at $384,350 in the last ninety days. Insiders own 1.00% of the company's stock.
BankUnited Stock Performance
NYSE BKU opened at $46.39 on Wednesday. BankUnited, Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $52.11. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 12.71 and a beta of 1.18. The business has a fifty day moving average of $47.68 and a 200-day moving average of $47.02. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54.
BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.03). The company had revenue of $284.57 million for 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 firm's revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. As a group, analysts predict that BankUnited, Inc. will post 4.01 earnings per share for the current fiscal 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 issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, July 10th. BankUnited's dividend payout ratio is 36.16%.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Royal Bank Of Canada cut their price target on BankUnited from $53.00 to $50.00 and set a "sector perform" rating for the company in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of BankUnited from $51.00 to $49.00 and set a "market perform" rating on the stock in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of BankUnited from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 29th. Hovde Group cut their target price on shares of BankUnited from $55.00 to $53.00 and set an "outperform" rating for the company in a research report on Monday, July 27th. Finally, Citigroup reduced their price target on shares of BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.64.
Check Out Our Latest Stock Report on BKU
About BankUnited
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Free Report)
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.
Further Reading
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