Pallas Capital Advisors LLC Purchases Shares of 7,208 BankUnited, Inc. $BKU

Key Points

• Pallas Capital Advisors LLC purchased 7,208 shares of BankUnited, Inc. for approximately $257,000, as part of its recent investment activity in the financial services sector.
• Insider transactions included the sale of shares by Jay D. Richards and Douglas J. Pauls, reducing their positions by 9.14% and 7.49%, respectively, indicating potential shifts in insider confidence.
• BankUnited's recent quarterly earnings surpassed expectations, reporting an EPS of $0.91, while the company declared a quarterly dividend of $0.31, demonstrating its commitment to shareholder returns.

Pallas Capital Advisors LLC purchased a new stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,208 shares of the financial services provider's stock, valued at approximately $257,000.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of BankUnited in the 1st quarter valued at approximately $28,000. Brooklyn Investment Group lifted its stake in shares of BankUnited by 14,050.0% in the 1st quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 843 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of BankUnited by 165.5% during the 1st 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 during the last quarter. Headlands Technologies LLC lifted its stake in shares of BankUnited by 697.4% during the 1st 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 during the last quarter. Finally, Quarry LP increased its holdings in BankUnited by 9,157.5% during the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider's stock worth $128,000 after purchasing an additional 3,663 shares during the period. Hedge funds and other institutional investors own 99.70% of the company's stock.

Insider Activity

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.81, for a total transaction of $152,989.02. Following the completion of the sale, the insider directly owned 39,193 shares in the company, valued at approximately $1,521,080.33. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the business'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 value of $135,765.00. Following the sale, the director owned 43,205 shares of the company's stock, valued at approximately $1,675,921.95. This trade represents a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.

BankUnited Stock Performance

Shares of BKU stock opened at $38.23 on Tuesday. The stock has a market cap of $2.87 billion, a PE ratio of 11.21 and a beta of 1.29. The business has a 50-day simple moving average of $37.92 and a 200-day simple moving average of $35.40. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76. 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 quarterly earnings data 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. BankUnited had a return on equity of 9.00% and a net margin of 13.19%.The business had revenue of $273.93 million during the quarter, compared to analysts' expectations of $267.17 million. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities analysts expect that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The firm 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. This represents a $1.24 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, July 11th. BankUnited's payout ratio is currently 36.36%.

Analysts Set New Price Targets

BKU has been the topic of several research reports. Royal Bank Of Canada restated a "sector perform" rating on shares of BankUnited in a report on Thursday, July 24th. Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company raised their price objective on BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Piper Sandler reiterated a "neutral" rating and issued a $43.00 price target (up from $41.00) on shares of BankUnited in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods lifted their price target on BankUnited from $38.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, July 28th. Four equities research 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $41.75.

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.

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