Fox Run Management L.L.C. Raises Holdings in BankUnited, Inc. $BKU

Key Points

• Fox Run Management L.L.C. increased its holdings in BankUnited, Inc. by 242.0% in Q1, acquiring a total of 48,238 shares, valued at approximately $1.66 million.
• A number of hedge funds, including Versant Capital Management and Headlands Technologies, also significantly increased their stakes in BankUnited, reflecting strong institutional interest.
• BankUnited reported earnings of $0.91 EPS for the last quarter, surpassing analysts' expectations, and declared a quarterly dividend of $0.31, yielding 3.3%.

Fox Run Management L.L.C. boosted its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 242.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,238 shares of the financial services provider's stock after acquiring an additional 34,132 shares during the quarter. Fox Run Management L.L.C. owned 0.06% of BankUnited worth $1,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its position in BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock valued at $65,000 after purchasing an additional 1,175 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BankUnited during the fourth quarter worth approximately $73,000. Headlands Technologies LLC grew its stake in BankUnited by 697.4% during the first 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 during the period. Marshall Wace LLP acquired a new stake in BankUnited during the fourth quarter worth approximately $216,000. Finally, Aigen Investment Management LP acquired a new stake in BankUnited in the first quarter valued at approximately $231,000. 99.70% of the stock is currently owned by institutional investors.

BankUnited Trading Down 0.6%

Shares of NYSE BKU traded down $0.22 during midday trading on Tuesday, reaching $37.15. The company had a trading volume of 105,550 shares, compared to its average volume of 823,895. The firm's fifty day moving average price is $36.49 and its 200-day moving average price is $35.40. The stock has a market cap of $2.79 billion, a PE ratio of 10.90 and a beta of 1.32. 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 one year low of $28.21 and a one year high of $44.45.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $273.93 million during the quarter, compared to analyst estimates of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.During the same quarter in the prior year, the company posted $0.72 EPS. On average, equities research analysts anticipate that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Friday, July 11th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. BankUnited's dividend payout ratio is currently 36.36%.

Analysts Set New Price Targets

BKU has been the subject of a number of research reports. Royal Bank Of Canada reissued a "sector perform" rating on shares of BankUnited in a research note on Thursday, July 24th. Jefferies Financial Group started coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods boosted their target price on BankUnited from $38.00 to $42.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Barclays boosted their target price on BankUnited from $41.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $43.00 price target (up from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BankUnited presently has a consensus rating of "Hold" and a consensus price target of $41.55.

Insider Transactions at BankUnited

In related news, Director John N. Digiacomo sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total value of $34,430.00. Following the sale, the director owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jay D. Richards sold 3,942 shares of the company'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 $1,521,080.33. The trade was a 9.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,442 shares of company stock valued at $323,184. Corporate 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.