Intech Investment Management LLC Boosts Stake in BankUnited, Inc. $BKU

Key Points

• Intech Investment Management LLC increased its stake in BankUnited, Inc. by 17.7%, now holding 85,566 shares valued at approximately $2.95 million.
• Multiple other hedge funds have also recently expanded their positions in BankUnited, with 99.70% of the company's stock owned by institutional investors and hedge funds.
• BankUnited declared a $0.31 quarterly dividend, which translates to an annualized yield of 3.2% and a payout ratio of 36.36%.

Intech Investment Management LLC lifted its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 17.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,566 shares of the financial services provider's stock after buying an additional 12,873 shares during the period. Intech Investment Management LLC owned approximately 0.11% of BankUnited worth $2,947,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BKU. Bank of America Corp DE raised its stake in BankUnited by 32.0% in the 4th quarter. Bank of America Corp DE now owns 562,417 shares of the financial services provider's stock worth $21,467,000 after acquiring an additional 136,343 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of BankUnited by 36.8% in the fourth quarter. Deutsche Bank AG now owns 79,257 shares of the financial services provider's stock valued at $3,025,000 after purchasing an additional 21,321 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of BankUnited by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,446 shares of the financial services provider's stock valued at $1,620,000 after purchasing an additional 1,611 shares during the period. Nuveen Asset Management LLC boosted its position in BankUnited by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 471,186 shares of the financial services provider's stock valued at $17,985,000 after buying an additional 2,585 shares during the last quarter. Finally, Man Group plc purchased a new stake in BankUnited in the fourth quarter valued at approximately $380,000. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Trading Up 0.1%

Shares of BKU stock opened at $39.33 on Monday. The stock has a 50 day simple moving average of $37.80 and a 200-day simple moving average of $35.27. BankUnited, Inc. has a 1-year low of $28.21 and a 1-year high of $44.45. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 11.53 and a beta of 1.29. 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 posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.12. The company 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 business posted $0.72 earnings per share. On average, equities research analysts expect that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a $0.31 dividend. 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 dividend payout ratio (DPR) is currently 36.36%.

Wall Street Analyst Weigh In

Several brokerages have commented on BKU. Jefferies Financial Group initiated coverage on shares of BankUnited in a research note on Wednesday, May 21st. They set a "hold" rating and a $39.00 price objective for the company. Piper Sandler reissued a "neutral" rating and set a $43.00 target price (up previously from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Royal Bank Of Canada restated a "sector perform" rating on shares of BankUnited in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upped their price target on shares of BankUnited from $38.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald initiated coverage on BankUnited in a research note on Wednesday, September 10th. They set an "overweight" rating and a $44.00 price objective for the company. Four 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.75.

Insider Activity

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the firm's stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the sale, the director directly owned 43,205 shares in the company, valued at approximately $1,675,921.95. This trade represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.15% of the company's stock.

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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