Quantbot Technologies LP Buys 35,738 Shares of BankUnited, Inc. $BKU

Key Points

• Quantbot Technologies LP has increased its stake in BankUnited, Inc. by 64.2% during Q1 2023, acquiring an additional 35,738 shares to bring its total ownership to 91,378 shares valued at approximately $3.15 million.
• Other institutional investors, including Bank of New York Mellon Corp and Principal Financial Group, have also significantly increased their holdings in BankUnited, resulting in institutional investors owning 99.70% of the company's stock.
• BankUnited reported strong financial performance with $0.91 earnings per share for the most recent quarter, exceeding analyst expectations, and has declared a quarterly dividend yielding 3.3%.

Quantbot Technologies LP increased its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 64.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,378 shares of the financial services provider's stock after purchasing an additional 35,738 shares during the quarter. Quantbot Technologies LP owned approximately 0.12% of BankUnited worth $3,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKU. Barclays PLC increased its position in BankUnited by 74.1% in the fourth quarter. Barclays PLC now owns 318,958 shares of the financial services provider's stock worth $12,174,000 after purchasing an additional 135,718 shares during the period. Marshall Wace LLP acquired a new position in shares of BankUnited during the 4th quarter worth about $216,000. Canada Pension Plan Investment Board acquired a new position in shares of BankUnited during the 4th quarter worth about $2,416,000. MetLife Investment Management LLC grew its position in shares of BankUnited by 4.2% during the 4th quarter. MetLife Investment Management LLC now owns 44,796 shares of the financial services provider's stock worth $1,710,000 after buying an additional 1,791 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of BankUnited by 14.9% during the 4th 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. 99.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKU has been the subject of several analyst reports. Piper Sandler restated a "neutral" rating and set a $43.00 target price (up from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Hovde Group boosted their target price on BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. 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 report on Thursday, July 24th. Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods boosted their target price on BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.55.

BankUnited Stock Down 0.5%

Shares of BKU traded down $0.1840 on Monday, hitting $38.5960. The company's stock had a trading volume of 60,862 shares, compared to its average volume of 817,708. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average price is $36.71 and its 200-day moving average price is $35.31. BankUnited, Inc. has a fifty-two week low of $28.21 and a fifty-two week high of $44.45. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.32 and a beta of 1.32.

BankUnited (NYSE:BKU - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $0.72 EPS. On average, equities research analysts expect that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders 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 annualized dividend and a yield of 3.2%. BankUnited's payout ratio is presently 36.36%.

Insider Buying and Selling at BankUnited

In other BankUnited news, 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 in the company, valued at approximately $1,675,921.95. The trade was a 7.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director owned 14,516 shares in the company, valued at $499,785.88. The trade was a 6.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,442 shares of company stock worth $323,184. Corporate insiders own 1.15% of the company's stock.

About BankUnited

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.