Lazard Asset Management LLC Acquires 64,803 Shares of BankUnited, Inc. (NYSE:BKU)

Lazard Asset Management LLC grew its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 29.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 286,475 shares of the financial services provider's stock after buying an additional 64,803 shares during the period. Lazard Asset Management LLC owned approximately 0.38% of BankUnited worth $10,933,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BKU. Interval Partners LP acquired a new position in BankUnited in the 4th quarter valued at approximately $3,507,000. Jacobs Levy Equity Management Inc. increased its position in shares of BankUnited by 14.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 761,770 shares of the financial services provider's stock valued at $29,077,000 after purchasing an additional 98,686 shares during the period. Graham Capital Management L.P. raised its stake in shares of BankUnited by 378.3% in the fourth quarter. Graham Capital Management L.P. now owns 54,039 shares of the financial services provider's stock valued at $2,063,000 after purchasing an additional 42,740 shares in the last quarter. Ethic Inc. raised its stake in shares of BankUnited by 25.6% in the fourth quarter. Ethic Inc. now owns 10,167 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 2,075 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in BankUnited by 36.8% in the fourth quarter. Deutsche Bank AG now owns 79,257 shares of the financial services provider's stock worth $3,025,000 after purchasing an additional 21,321 shares during the period. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Price Performance

NYSE BKU traded down $0.12 during trading hours on Tuesday, reaching $35.97. 53,960 shares of the company's stock were exchanged, compared to its average volume of 792,522. The firm has a fifty day moving average of $33.20 and a 200-day moving average of $37.16. BankUnited, Inc. has a one year low of $26.78 and a one year high of $44.45. The stock has a market cap of $2.71 billion, a PE ratio of 11.69 and a beta of 1.29. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04.

BankUnited (NYSE:BKU - Get Free Report) last announced its earnings results on Monday, April 28th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.74 by $0.04. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. The company had revenue of $255.41 million for the quarter, compared to analysts' expectations of $264.35 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, equities research analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, April 11th. This is a boost from BankUnited's previous quarterly dividend of $0.29. BankUnited's dividend payout ratio (DPR) is presently 38.51%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BKU. Keefe, Bruyette & Woods lowered their price target on shares of BankUnited from $40.00 to $38.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Piper Sandler upgraded shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 target price on the stock in a research report on Tuesday, March 11th. Wells Fargo & Company dropped their price target on shares of BankUnited from $50.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Hovde Group cut their price target on shares of BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Finally, Royal Bank of Canada decreased their price objective on BankUnited from $42.00 to $40.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $40.55.

Insider Buying and Selling at BankUnited

In other news, CFO Leslie Lunak sold 22,776 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $33.56, for a total transaction of $764,362.56. Following the sale, the chief financial officer now directly owns 59,899 shares of the company's stock, valued at $2,010,210.44. This represents a 27.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sanjiv Sobti acquired 2,000 shares of BankUnited stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of $32.07 per share, for a total transaction of $64,140.00. Following the acquisition, the director now owns 20,782 shares in the company, valued at approximately $666,478.74. This represents a 10.65% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.15% of the company's stock.

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.