Public Employees Retirement System of Ohio Acquires New Position in BankUnited, Inc. $BKU

Key Points

• Public Employees Retirement System of Ohio acquired 64,615 BankUnited shares worth approximately $3.1 million, while institutional investors collectively owned 99.7% of the company.
• BankUnited reported quarterly earnings of $0.97 per share and revenue of $284.6 million, both slightly below analyst expectations, although revenue increased 3.9% year over year.
• The company paid a quarterly dividend of $0.33 per share, representing a 2.8% annualized yield; analysts’ consensus rating was Hold, with an average price target of $51.64.

Public Employees Retirement System of Ohio acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 64,615 shares of the financial services provider's stock, valued at approximately $3,131,000. Public Employees Retirement System of Ohio owned approximately 0.09% of BankUnited at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKU. Edgestream Partners L.P. purchased a new stake in shares of BankUnited in the first quarter valued at approximately $6,797,000. BlackRock Inc. purchased a new position in BankUnited in the second quarter worth $518,492,000. Burney Co. purchased a new position in BankUnited in the first quarter worth $1,026,000. Fifth Third Bancorp lifted its holdings in BankUnited by 4,572.7% in the first quarter. Fifth Third Bancorp now owns 25,653 shares of the financial services provider's stock valued at $1,159,000 after acquiring an additional 25,104 shares during the period. Finally, Bank of America Corp DE lifted its holdings in BankUnited by 9.0% in the first quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider's stock valued at $37,011,000 after acquiring an additional 67,981 shares during the period. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Price Performance

BankUnited stock opened at $46.42 on Friday. BankUnited, Inc. has a 52 week low of $35.10 and a 52 week high of $52.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm's 50-day simple moving average is $47.25 and its 200 day simple moving average is $46.82. The firm has a market capitalization of $3.31 billion, a PE ratio of 12.72 and a beta of 1.17.

BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.03). The business had revenue of $284.57 million for the quarter, compared to analysts' expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business's revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. On average, equities research analysts predict that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited's dividend payout ratio (DPR) is 36.16%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating on shares of BankUnited in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Royal Bank Of Canada decreased their price objective on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of BankUnited in a report on Wednesday, August 26th. Finally, Barclays dropped their target price on shares of BankUnited from $50.00 to $48.00 and set an "equal weight" rating for the company in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $51.64.

Insider Buying and Selling

In other BankUnited news, insider Jay D. Richards sold 4,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the sale, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the transaction, the director directly owned 42,472 shares of the company's stock, valued at $2,034,408.80. The trade was a 6.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company's stock.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank's lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.

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