Sei Investments Co. Grows Stake in BankUnited, Inc. $BKU

Key Points

• Sei Investments increased its BankUnited stake by 13.3% in the first quarter to 264,506 shares valued at approximately $11.9 million. Institutional investors collectively own 99.7% of the company.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $52.00 consensus price target; recent target reductions included RBC to $50 and Citigroup to $42.
• BankUnited reported quarterly EPS of $0.97, below the $1.00 consensus estimate, while revenue rose 3.9% year over year to $284.6 million. The company also paid a quarterly dividend of $0.33, representing a 2.8% annualized yield.

Sei Investments Co. raised its position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,506 shares of the financial services provider's stock after purchasing an additional 30,999 shares during the period. Sei Investments Co. owned about 0.36% of BankUnited worth $11,945,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Tudor Investment Corp ET AL bought a new stake in shares of BankUnited in the third quarter valued at about $7,599,000. Artemis Investment Management LLP bought a new position in BankUnited during the 4th quarter worth about $73,655,000. Horizon Investments LLC bought a new position in BankUnited during the 4th quarter worth about $1,858,000. Fifth Third Bancorp increased its position in BankUnited by 4,572.7% during the 1st quarter. Fifth Third Bancorp now owns 25,653 shares of the financial services provider's stock valued at $1,159,000 after purchasing an additional 25,104 shares during the period. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of BankUnited in the 4th quarter valued at about $7,800,000. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of BankUnited from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 21st. Wall Street Zen raised shares of BankUnited from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Cantor Fitzgerald restated an "overweight" rating and set a $56.00 target price on shares of BankUnited in a report on Wednesday, July 15th. Royal Bank Of Canada dropped their target price on BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 23rd. Finally, Citigroup cut their price target on BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $52.00.

Insider Activity

In other news, insider Jay D. Richards sold 4,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the transaction, the insider owned 40,502 shares in the company, valued at $1,971,232.34. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.97, for a total transaction of $45,970.00. Following the completion of the transaction, the director directly owned 15,027 shares of the company's stock, valued at $690,791.19. The trade was a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by company insiders.

BankUnited Stock Performance

Shares of BKU stock opened at $46.64 on Friday. BankUnited, Inc. has a 12-month low of $34.79 and a 12-month high of $52.11. The business's fifty day simple moving average is $47.71 and its 200-day simple moving average is $47.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.39 billion, a PE ratio of 12.78 and a beta of 1.17.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.03). BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The business had revenue of $284.57 million during the quarter, compared to analyst estimates of $290.33 million. During the same period in the previous year, the business earned $0.91 EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that BankUnited, Inc. will post 4.09 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

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

BankUnited Company Profile

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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