Jennison Associates LLC Has $11.42 Million Holdings in BankUnited, Inc. (NYSE:BKU)

Jennison Associates LLC lowered its position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 37.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 331,677 shares of the financial services provider's stock after selling 194,990 shares during the period. Jennison Associates LLC owned 0.44% of BankUnited worth $11,423,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bailard Inc. bought a new position in BankUnited in the 1st quarter worth approximately $703,000. James Investment Research Inc. acquired a new position in BankUnited during the 1st quarter worth $245,000. CWM LLC grew its stake in shares of BankUnited by 31.7% in the first quarter. CWM LLC now owns 7,464 shares of the financial services provider's stock worth $257,000 after purchasing an additional 1,798 shares in the last quarter. Cerity Partners LLC grew its stake in shares of BankUnited by 9.8% in the first quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider's stock worth $280,000 after purchasing an additional 726 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of BankUnited by 36.8% during the first quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock valued at $36,496,000 after purchasing an additional 285,092 shares during the period. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Trading Down 2.0%

Shares of NYSE:BKU traded down $0.80 during mid-day trading on Thursday, hitting $38.75. The stock had a trading volume of 1,050,522 shares, compared to its average volume of 818,655. The company's 50 day moving average is $35.73 and its 200-day moving average is $35.78. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $44.45. 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 market cap of $2.91 billion, a PE ratio of 11.36 and a beta of 1.29.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.12. The company had revenue of $273.93 million for 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 business earned $0.72 EPS. On average, sell-side analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, July 11th. BankUnited's dividend payout ratio is currently 38.51%.

Insider Buying and Selling

In other news, Director John N. Digiacomo sold 1,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the transaction, the director directly owned 14,516 shares of the company's stock, valued at approximately $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Leslie Lunak sold 22,776 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total value of $764,362.56. Following the sale, the chief financial officer owned 59,899 shares of the company's stock, valued at approximately $2,010,210.44. This represents a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.15% of the company's stock.

Analysts Set New Price Targets

BKU has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on shares of BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a report on Wednesday, April 30th. Royal Bank Of Canada reduced their price target on shares of BankUnited from $42.00 to $40.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Citigroup increased their price objective on shares of BankUnited from $36.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upped their target price on BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.18.

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.