Dynamic Technology Lab Private Ltd Purchases Shares of 21,765 BankUnited, Inc. $BKU

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $750,000 in BankUnited, acquiring 21,765 shares during the first quarter.
• BankUnited recently announced a quarterly dividend of $0.31, which provides a 3.2% dividend yield, with a payout ratio of 36.36%.
• Various analysts have adjusted their price targets for BankUnited, with Wells Fargo & Company raising their target from $42.00 to $45.00 and assigning an "overweight" rating.

Dynamic Technology Lab Private Ltd bought a new position in BankUnited, Inc. (NYSE:BKU - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,765 shares of the financial services provider's stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BKU. Brooklyn Investment Group raised its holdings in shares of BankUnited by 14,050.0% in the 1st quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider's stock worth $29,000 after purchasing an additional 843 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of BankUnited by 165.5% in the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BankUnited in the 4th quarter worth approximately $73,000. Headlands Technologies LLC raised its holdings in shares of BankUnited by 697.4% in the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider's stock worth $85,000 after purchasing an additional 2,155 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of BankUnited by 9,157.5% in the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider's stock worth $128,000 after purchasing an additional 3,663 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

BankUnited Stock Up 0.1%

NYSE:BKU traded up $0.03 during trading hours on Friday, reaching $39.33. The company's stock had a trading volume of 932,303 shares, compared to its average volume of 524,425. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 11.53 and a beta of 1.29. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45. The business's 50-day moving average is $37.80 and its 200-day moving average is $35.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. The firm had revenue of $273.93 million during the quarter, compared to analysts' expectations 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 prior year, the company posted $0.72 earnings per share. Equities research analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.24 dividend on an annualized basis and a yield of 3.2%. BankUnited's payout ratio is currently 36.36%.

Insider Transactions at BankUnited

In other BankUnited 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 completion of the sale, the director directly 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 Securities & Exchange Commission, which is available at the SEC website. 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 sale, the insider owned 39,193 shares of the company's stock, valued at $1,521,080.33. This trade represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BKU. Piper Sandler reissued a "neutral" rating and issued a $43.00 target price (up from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Hovde Group lifted their target price on shares of BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group began coverage on shares of BankUnited in a research report on Wednesday, May 21st. They issued a "hold" rating and a $39.00 target price on the stock. Citigroup lifted their target price on shares of BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their target price on shares of BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.75.

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.