Jennison Associates LLC Buys 513,342 Shares of BankUnited, Inc. (NYSE:BKU)

Jennison Associates LLC lifted its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 54.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,459,268 shares of the financial services provider's stock after purchasing an additional 513,342 shares during the quarter. Jennison Associates LLC owned 1.96% of BankUnited worth $47,324,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of BankUnited by 24.6% in the 4th quarter. Nordea Investment Management AB now owns 124,072 shares of the financial services provider's stock valued at $4,042,000 after acquiring an additional 24,498 shares during the period. FMR LLC raised its holdings in BankUnited by 23.2% during the 3rd quarter. FMR LLC now owns 1,539,176 shares of the financial services provider's stock worth $34,939,000 after buying an additional 290,232 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in BankUnited by 84.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 262,741 shares of the financial services provider's stock worth $5,964,000 after buying an additional 120,441 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in BankUnited by 129.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 70,116 shares of the financial services provider's stock worth $1,592,000 after buying an additional 39,507 shares during the period. Finally, Graham Capital Management L.P. raised its holdings in BankUnited by 272.2% during the 3rd quarter. Graham Capital Management L.P. now owns 132,681 shares of the financial services provider's stock worth $3,012,000 after buying an additional 97,034 shares during the period. Institutional investors own 99.70% of the company's stock.

Insider Activity at BankUnited

In other BankUnited news, insider Kevin A. Malcolm sold 2,285 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $27.18, for a total transaction of $62,106.30. Following the transaction, the insider now directly owns 11,750 shares in the company, valued at approximately $319,365. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on BKU shares. UBS Group downgraded shares of BankUnited from a "neutral" rating to a "sell" rating and set a $29.00 target price on the stock. in a report on Monday, January 8th. Wells Fargo & Company raised their target price on shares of BankUnited from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. Royal Bank of Canada dropped their target price on shares of BankUnited from $33.00 to $29.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 9th. StockNews.com cut shares of BankUnited from a "hold" rating to a "sell" rating in a research note on Friday, February 16th. Finally, Barclays began coverage on shares of BankUnited in a research note on Friday, March 8th. They set an "equal weight" rating and a $29.00 price target for the company. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $30.50.

BankUnited Stock Performance

Shares of BKU traded up $0.18 during midday trading on Wednesday, reaching $27.78. 585,524 shares of the stock were exchanged, compared to its average volume of 895,948. BankUnited, Inc. has a twelve month low of $15.83 and a twelve month high of $34.22. The company has a quick ratio of 0.92, a current ratio of 0.88 and a debt-to-equity ratio of 1.48. The company has a market cap of $2.08 billion, a P/E ratio of 11.97 and a beta of 1.36. The stock's 50 day simple moving average is $26.83 and its 200 day simple moving average is $27.15.

BankUnited (NYSE:BKU - Get Free Report) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. BankUnited had a return on equity of 8.06% and a net margin of 8.71%. The company had revenue of $508.35 million for the quarter, compared to analysts' expectations of $239.84 million. During the same period in the previous year, the business posted $0.70 earnings per share. On average, sell-side analysts expect that BankUnited, Inc. will post 2.73 earnings per share for the current year.

BankUnited Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 12th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This is a boost from BankUnited's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 4.18%. BankUnited's dividend payout ratio is presently 50.00%.

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.