Wealth Enhancement Advisory Services LLC Makes New Investment in BankUnited, Inc. (NYSE:BKU)

Wealth Enhancement Advisory Services LLC bought a new position in shares of BankUnited, Inc. (NYSE:BKU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,982 shares of the financial services provider's stock, valued at approximately $585,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its stake in BankUnited by 46.1% during the 1st quarter. Handelsbanken Fonder AB now owns 20,932 shares of the financial services provider's stock worth $721,000 after purchasing an additional 6,600 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in BankUnited by 6,870.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 27,671 shares of the financial services provider's stock worth $953,000 after purchasing an additional 27,274 shares during the last quarter. GAMMA Investing LLC boosted its stake in BankUnited by 3,430.4% during the 1st quarter. GAMMA Investing LLC now owns 178,744 shares of the financial services provider's stock worth $6,156,000 after purchasing an additional 173,681 shares during the last quarter. Versant Capital Management Inc boosted its stake in BankUnited by 165.5% during the 1st quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in BankUnited during the 4th quarter worth $605,000. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Up 1.1%

Shares of BKU opened at $38.04 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of 11.81 and a beta of 1.29. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $44.45. The company's 50-day moving average price is $34.71 and its 200 day moving average price is $35.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.83.

BankUnited (NYSE:BKU - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $255.41 million for the quarter, compared to analyst estimates of $264.35 million. BankUnited had a net margin of 12.26% and a return on equity of 8.66%. During the same period in the previous year, the firm earned $0.64 EPS. On average, sell-side analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, July 11th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.24 annualized dividend and a yield of 3.26%. BankUnited's dividend payout ratio (DPR) is currently 38.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler upgraded BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price target on the stock in a report on Tuesday, March 11th. Barclays reduced their price target on BankUnited from $44.00 to $38.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered BankUnited from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Royal Bank Of Canada reduced their price target on BankUnited from $42.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods reduced their price target on BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, BankUnited currently has an average rating of "Hold" and an average target price of $40.33.

Insider Activity

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total transaction of $34,430.00. Following the sale, the director directly owned 14,516 shares in the company, valued at $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Leslie Lunak sold 22,776 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $33.56, for a total transaction of $764,362.56. Following the sale, the chief financial officer owned 59,899 shares in the company, valued at $2,010,210.44. This trade represents a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.

BankUnited Company Profile

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.

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