The Manufacturers Life Insurance Company Makes New Investment in BankUnited, Inc. $BKU

Key Points

• Institutional ownership increased: The Manufacturers Life Insurance Company acquired 35,974 BankUnited shares worth approximately $1.74 million, while hedge funds and other institutions now own 99.70% of the stock.
• Analyst sentiment is mixed: BankUnited has a consensus “Hold” rating and an average price target of $51.64, despite several buy and overweight ratings alongside some downgrades.
• Quarterly results fell slightly short of expectations: BankUnited reported $0.97 in earnings per share and $284.57 million in revenue, missing estimates, while maintaining a quarterly dividend of $0.33 per share, yielding about 2.9%.

The Manufacturers Life Insurance Company acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,974 shares of the financial services provider's stock, valued at approximately $1,743,000. The Manufacturers Life Insurance Company owned 0.05% of BankUnited at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of BankUnited during the 2nd quarter worth approximately $518,492,000. HoldCo Asset Management LP grew its stake in BankUnited by 277.3% in the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider's stock valued at $157,568,000 after acquiring an additional 2,598,382 shares during the period. Millennium Management LLC grew its stake in BankUnited by 1,066.9% in the 4th quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider's stock valued at $62,383,000 after acquiring an additional 1,279,712 shares during the period. Bank of New York Mellon Corp purchased a new stake in BankUnited in the 2nd quarter worth $46,177,000. Finally, Balyasny Asset Management L.P. raised its position in BankUnited by 73.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider's stock worth $68,728,000 after acquiring an additional 652,926 shares during the period. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKU has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of BankUnited in a report on Wednesday, July 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $56.00 price target on shares of BankUnited in a research report on Wednesday, July 15th. Citigroup reduced their price target on shares of BankUnited from $45.00 to $42.00 and set a "sell" rating for the company in a research report on Friday, July 24th. Hovde Group decreased their price target on shares of BankUnited from $55.00 to $53.00 and set an "outperform" rating on the stock in a research note on Monday, July 27th. Finally, Wells Fargo & Company assumed coverage on BankUnited in a report on Monday, August 10th. They issued an "overweight" rating and a $54.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $51.64.

BankUnited Price Performance

BKU stock opened at $45.91 on Friday. BankUnited, Inc. has a 1 year low of $35.10 and a 1 year high of $52.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $3.27 billion, a PE ratio of 12.58 and a beta of 1.17. The business has a 50 day simple moving average of $47.30 and a 200-day simple moving average of $46.83.

BankUnited (NYSE:BKU - Get Free Report) last released 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). The company had revenue of $284.57 million for the quarter, compared to analyst estimates of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.The business's quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. Equities research analysts anticipate that BankUnited, Inc. will post 4.01 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. BankUnited's payout ratio is presently 36.16%.

Insider Activity

In related news, Director Douglas Pauls sold 3,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the sale, the director owned 42,472 shares of the company's stock, valued at approximately $2,034,408.80. This represents a 6.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jay Richards sold 4,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company's stock.

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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