Mackenzie Financial Corp Takes $605,000 Position in BankUnited, Inc. (NYSE:BKU)

Mackenzie Financial Corp bought a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,860 shares of the financial services provider's stock, valued at approximately $605,000.

Several other institutional investors and hedge funds also recently modified their holdings of BKU. Barclays PLC increased its stake in shares of BankUnited by 48.3% during the third quarter. Barclays PLC now owns 183,240 shares of the financial services provider's stock worth $6,677,000 after purchasing an additional 59,644 shares during the period. Blue Trust Inc. raised its position in shares of BankUnited by 182.3% in the 4th quarter. Blue Trust Inc. now owns 847 shares of the financial services provider's stock worth $31,000 after acquiring an additional 547 shares in the last quarter. KBC Group NV raised its position in shares of BankUnited by 87.8% in the 4th quarter. KBC Group NV now owns 4,028 shares of the financial services provider's stock worth $154,000 after acquiring an additional 1,883 shares in the last quarter. Empowered Funds LLC raised its position in shares of BankUnited by 9.0% in the 4th quarter. Empowered Funds LLC now owns 250,194 shares of the financial services provider's stock worth $9,550,000 after acquiring an additional 20,558 shares in the last quarter. Finally, Congress Asset Management Co. increased its position in BankUnited by 7.8% in the 4th quarter. Congress Asset Management Co. now owns 209,010 shares of the financial services provider's stock valued at $7,978,000 after buying an additional 15,057 shares in the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Stock Performance

BKU traded up $0.75 on Friday, reaching $34.39. The stock had a trading volume of 670,576 shares, compared to its average volume of 797,917. BankUnited, Inc. has a 12-month low of $26.78 and a 12-month high of $44.45. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. The business's 50-day moving average price is $33.11 and its two-hundred day moving average price is $36.71. The company has a market cap of $2.59 billion, a P/E ratio of 11.16 and a beta of 1.30.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. The firm had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. During the same period in the previous year, the business posted $0.64 earnings per share. Sell-side analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from BankUnited's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, April 11th. BankUnited's payout ratio is 38.51%.

Insider Buying and Selling

In related news, Director Sanjiv Sobti bought 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $32.07 per share, for a total transaction of $64,140.00. Following the acquisition, the director now owns 20,782 shares in the company, valued at approximately $666,478.74. This represents a 10.65% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total transaction of $764,362.56. Following the completion of the transaction, the chief financial officer now owns 59,899 shares of the company's stock, valued at $2,010,210.44. This represents a 27.55% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler raised BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 target price for the company in a report on Tuesday, March 11th. Wall Street Zen cut shares of BankUnited from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods decreased their price target on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company reduced their target price on BankUnited from $50.00 to $42.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their target price on BankUnited from $38.00 to $34.00 and set a "sell" rating on the stock in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $40.42.

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.