Wellington Management Group LLP Grows Position in BankUnited, Inc. $BKU

Key Points

• Wellington Management Group LLP increased its stake in BankUnited, Inc. by 893.2% in Q1, acquiring over 1 million new shares and bringing its total ownership to approximately $39.64 million.
• BankUnited reported an earnings per share (EPS) of $0.91, surpassing forecasts of $0.79, along with revenue of $273.93 million for the quarter.
• The company declared a quarterly dividend of $0.31 per share, resulting in a yield of 3.2%, with a payout ratio of 36.36%.

Wellington Management Group LLP lifted its stake in BankUnited, Inc. (NYSE:BKU - Free Report) by 893.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,150,879 shares of the financial services provider's stock after purchasing an additional 1,035,002 shares during the period. Wellington Management Group LLP owned 1.53% of BankUnited worth $39,636,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BKU. Cerity Partners LLC grew its stake in shares of BankUnited by 9.8% in the first quarter. Cerity Partners LLC now owns 8,117 shares of the financial services provider's stock worth $280,000 after acquiring an additional 726 shares during the period. Brooklyn Investment Group grew its stake in shares of BankUnited by 14,050.0% in the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider's stock worth $29,000 after acquiring an additional 843 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of BankUnited by 14.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,174 shares of the financial services provider's stock worth $274,000 after acquiring an additional 932 shares during the period. Versant Capital Management Inc grew its stake in shares of BankUnited by 165.5% in the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider's stock worth $65,000 after acquiring an additional 1,175 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of BankUnited by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,446 shares of the financial services provider's stock worth $1,620,000 after acquiring an additional 1,611 shares during the period. 99.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BKU has been the subject of a number of research analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $43.00 price target (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of BankUnited in a research note on Thursday, July 24th. Barclays raised their price objective on shares of BankUnited from $41.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Hovde Group raised their price objective on shares of BankUnited from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of BankUnited from $38.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.55.

Insider Buying and Selling at BankUnited

In related news, insider Jay D. Richards sold 3,942 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the sale, the insider owned 39,193 shares in the company, valued at approximately $1,521,080.33. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.79, for a total transaction of $135,765.00. Following the transaction, the director owned 43,205 shares in the company, valued at $1,675,921.95. This trade represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.15% of the company's stock.

BankUnited Price Performance

Shares of BKU traded up $0.04 during mid-day trading on Friday, reaching $39.17. The stock had a trading volume of 618,578 shares, compared to its average volume of 654,800. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 11.49 and a beta of 1.32. BankUnited, Inc. has a 12 month low of $28.21 and a 12 month high of $44.45. The business has a fifty day moving average of $37.24 and a 200 day moving average of $35.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84.

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, topping the consensus estimate of $0.79 by $0.12. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. The firm had revenue of $273.93 million for the quarter, compared to the consensus estimate of $267.17 million. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, July 11th. BankUnited's payout ratio is currently 36.36%.

BankUnited 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.