Squarepoint Ops LLC Acquires New Position in BankUnited, Inc. $BKU

Key Points

• Squarepoint Ops LLC acquired 70,319 BankUnited shares worth approximately $3.4 million, representing about 0.10% of the company. Institutional investors collectively own 99.70% of BankUnited.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $51.64; recent analysts lowered several targets, while ratings range from Strong Buy to Sell.
• BankUnited reported quarterly EPS of $0.97 and revenue of $284.57 million, both below analyst expectations, while revenue rose 3.9% year over year. The company paid a quarterly dividend of $0.33, equivalent to a 2.9% yield.

Squarepoint Ops LLC acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70,319 shares of the financial services provider's stock, valued at approximately $3,407,000. Squarepoint Ops LLC owned about 0.10% of BankUnited as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allworth Financial LP bought a new position in shares of BankUnited in the 2nd quarter worth $26,000. Strs Ohio acquired a new stake in shares of BankUnited during the first quarter worth $28,000. Eurizon Capital SGR S.p.A. bought a new stake in BankUnited in the fourth quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in BankUnited in the fourth quarter valued at about $35,000. Finally, Quarry LP lifted its stake in BankUnited by 158.2% in the third quarter. Quarry LP now owns 940 shares of the financial services provider's stock valued at $36,000 after buying an additional 576 shares during the period. Institutional investors own 99.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BKU shares. Citigroup reduced their target price on BankUnited from $45.00 to $42.00 and set a "sell" rating on the stock in a report on Friday, July 24th. Hovde Group lowered their price target on BankUnited from $55.00 to $53.00 and set an "outperform" rating for the company in a research note on Monday, July 27th. Royal Bank Of Canada cut their price target on shares of BankUnited from $53.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of BankUnited in a research note on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, BankUnited currently has an average rating of "Hold" and a consensus price target of $51.64.

Insider Buying and Selling

In related news, Director Douglas Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the completion of the sale, the director directly owned 42,472 shares of the company's stock, valued at approximately $2,034,408.80. This represents a 6.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay Richards sold 4,000 shares of the firm's stock in a transaction that occurred 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 $1,971,232.34. This trade represents a 8.99% 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 corporate insiders.

BankUnited Stock Performance

BKU stock opened at $44.81 on Friday. BankUnited, Inc. has a 1-year low of $35.10 and a 1-year high of $52.11. 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 firm has a market cap of $3.19 billion, a PE ratio of 12.28 and a beta of 1.17. The business's 50-day moving average price is $46.94 and its two-hundred day moving average price is $46.69.

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

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were given a $0.33 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. BankUnited's payout ratio is currently 36.16%.

BankUnited Company Profile

BankUnited, Inc NYSE: BKU is the bank holding company for BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida. The company provides banking products and services to commercial and middle-market businesses, public-sector organizations, and individual consumers.

Its offerings include commercial and industrial lending, commercial real estate financing, residential and commercial mortgage lending, consumer loans, deposit accounts, treasury management, online and mobile banking, and other cash-management services.

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