Nuveen LLC Makes New $16.34 Million Investment in BankUnited, Inc. $BKU

Key Points

• Nuveen LLC invested approximately $16.34 million in BankUnited, acquiring 474,384 shares, which accounts for 0.63% of the company's stock, according to their recent SEC filing.
• BankUnited's stock has recently seen price target adjustments from analysts, with Keefe, Bruyette & Woods raising their target from $38.00 to $42.00, while Goldman Sachs lowered theirs from $38.00 to $34.00.
• The financial services provider reported earnings of $0.91 per share in its last quarter, exceeding expectations, along with a recent quarterly dividend of $0.31 per share, resulting in a 3.3% yield.

Nuveen LLC acquired a new position in BankUnited, Inc. (NYSE:BKU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 474,384 shares of the financial services provider's stock, valued at approximately $16,338,000. Nuveen LLC owned approximately 0.63% of BankUnited as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in BankUnited by 9.8% during the first quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider's stock worth $280,000 after buying an additional 726 shares during the period. Tower Research Capital LLC TRC lifted its holdings in BankUnited by 14.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,174 shares of the financial services provider's stock worth $274,000 after buying an additional 932 shares during the period. Versant Capital Management Inc lifted its holdings 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 buying an additional 1,175 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in BankUnited by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,446 shares of the financial services provider's stock worth $1,620,000 after buying an additional 1,611 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in BankUnited by 8.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,974 shares of the financial services provider's stock worth $722,000 after buying an additional 1,682 shares during the period. Institutional investors own 99.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BKU shares. Keefe, Bruyette & Woods upped their target price on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of BankUnited in a report on Thursday, July 24th. Wells Fargo & Company increased their price objective on BankUnited from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating and set a $43.00 price objective (up previously from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Finally, Jefferies Financial Group assumed coverage on BankUnited in a report on Wednesday, May 21st. They set a "hold" rating and a $39.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.55.

BankUnited Stock Performance

BKU stock traded up $0.45 during midday trading on Tuesday, reaching $39.00. The stock had a trading volume of 611,531 shares, compared to its average volume of 682,215. The stock has a market cap of $2.93 billion, a PE ratio of 11.44 and a beta of 1.32. 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 firm has a fifty day simple moving average of $36.91 and a two-hundred day simple moving average of $35.32. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $44.45.

BankUnited (NYSE:BKU - Get Free Report) last issued its 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 company 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 last year, the business posted $0.72 EPS. As a group, equities research analysts anticipate that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The company also recently announced 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 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 36.36%.

Insider Buying and Selling

In related news, Director Douglas J. Pauls sold 3,500 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the completion of the transaction, the director owned 43,205 shares in the company, valued at $1,675,921.95. This trade represents a 7.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction dated 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 directly owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,442 shares of company stock worth $323,184 in the last 90 days. Insiders own 1.15% of the company's stock.

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.