Wolverine Asset Management LLC Raises Stock Holdings in BankUnited, Inc. (NYSE:BKU)

Key Points

• Wolverine Asset Management LLC increased its stake in BankUnited, Inc. by 216.9%, owning a total of 21,326 shares worth approximately $734,000.
• Several hedge funds have acquired significant positions in BankUnited, contributing to 99.70% of the company's stock being owned by institutional investors.
• BankUnited recently reported earnings of $0.91 per share, exceeding analysts' estimates, and announced a quarterly dividend of $0.31 per share.

Wolverine Asset Management LLC increased its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 216.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,326 shares of the financial services provider's stock after purchasing an additional 14,596 shares during the quarter. Wolverine Asset Management LLC's holdings in BankUnited were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKU. Balyasny Asset Management L.P. acquired a new stake in shares of BankUnited during the 4th quarter worth about $34,525,000. Freestone Grove Partners LP acquired a new position in shares of BankUnited in the fourth quarter valued at approximately $30,499,000. Cramer Rosenthal Mcglynn LLC purchased a new position in shares of BankUnited during the fourth quarter valued at approximately $18,663,000. Bank of New York Mellon Corp boosted its position in BankUnited by 36.8% during the first quarter. Bank of New York Mellon Corp now owns 1,059,697 shares of the financial services provider's stock worth $36,496,000 after acquiring an additional 285,092 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in BankUnited during the fourth quarter worth approximately $10,163,000. Hedge funds and other institutional investors own 99.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BKU shares. Wall Street Zen upgraded BankUnited from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. The Goldman Sachs Group lowered their price objective on BankUnited from $38.00 to $34.00 and set a "sell" rating for the company in a research report on Wednesday, April 30th. Piper Sandler reiterated a "neutral" rating and issued a $43.00 target price (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Wells Fargo & Company raised their price target on BankUnited from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group began coverage on BankUnited in a report on Wednesday, May 21st. They issued a "hold" rating and a $39.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $41.55.

Insider Buying and Selling at BankUnited

In other news, Director John N. Digiacomo sold 1,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total value of $34,430.00. Following the completion of the sale, the director owned 14,516 shares of the company's stock, valued at $499,785.88. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $38.79, for a total value of $135,765.00. Following the sale, the director owned 43,205 shares in the company, valued at approximately $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,442 shares of company stock valued at $323,184 over the last three months. 1.15% of the stock is owned by company insiders.

BankUnited Stock Up 1.2%

Shares of NYSE:BKU opened at $36.04 on Friday. The stock has a 50-day simple moving average of $36.10 and a 200-day simple moving average of $35.58. The stock has a market capitalization of $2.71 billion, a P/E ratio of 10.57 and a beta of 1.32. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $44.45. 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 announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $267.17 million. During the same period in the previous year, the company posted $0.72 earnings per share. Equities analysts forecast that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.24 annualized dividend and a yield of 3.4%. BankUnited's dividend payout ratio (DPR) is 36.36%.

About BankUnited

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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