Kodai Capital Management LP Purchases New Shares in BankUnited, Inc. $BKU

Key Points

• Kodai Capital Management LP acquired approximately 493,194 shares of BankUnited, Inc. ($BKU), valued at around $16.99 million, representing about 0.66% of the company's stock.
• BankUnited recently announced a quarterly dividend of $0.31, which has a yield of 3.2%, contributing to an annualized payout of $1.24.
• The company reported $0.91 earnings per share for the last quarter, surpassing analysts' expectations by $0.12, with revenues of $273.93 million.

Kodai Capital Management LP purchased a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 493,194 shares of the financial services provider's stock, valued at approximately $16,986,000. Kodai Capital Management LP owned approximately 0.66% of BankUnited as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group raised its stake in BankUnited by 14,050.0% during the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider's stock worth $29,000 after acquiring an additional 843 shares in the last quarter. Versant Capital Management Inc raised its stake in BankUnited by 165.5% during the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after acquiring an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in BankUnited during the fourth quarter worth about $73,000. Headlands Technologies LLC raised 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 acquiring an additional 2,155 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in BankUnited during the fourth quarter worth about $216,000. Institutional investors and hedge funds own 99.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company boosted their target price on BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Citigroup boosted their price target on BankUnited from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Hovde Group boosted their price target on BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods boosted their price target on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of BankUnited in a report on Thursday, July 24th. Three equities research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.55.

Insider Buying and Selling

In other news, Director Douglas J. Pauls sold 3,500 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the transaction, the director directly owned 43,205 shares of the company's stock, valued at $1,675,921.95. This represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay D. Richards sold 3,942 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the sale, the insider directly owned 39,193 shares of the company's stock, valued at $1,521,080.33. The trade was 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.

BankUnited Trading Down 1.1%

BKU stock traded down $0.43 during trading on Tuesday, hitting $38.76. The company had a trading volume of 442,695 shares, compared to its average volume of 810,898. The business has a 50-day moving average of $37.34 and a 200-day moving average of $35.25. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45. The stock has a market cap of $2.92 billion, a PE ratio of 11.37 and a beta of 1.29. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.During the same period in the prior year, the business earned $0.72 EPS. Research analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

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 dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, July 11th. BankUnited's dividend payout ratio is presently 36.36%.

BankUnited Company 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.