Empire Life Investments Inc. bought a new position in shares of BankUnited (NYSE:BKU) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 98,572 shares of the financial services provider’s stock, valued at approximately $4,014,000. Empire Life Investments Inc. owned 0.09% of BankUnited at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BKU. Amica Retiree Medical Trust acquired a new stake in BankUnited in the fourth quarter valued at approximately $138,000. Macquarie Group Ltd. acquired a new position in shares of BankUnited during the third quarter worth $174,000. First Mercantile Trust Co. acquired a new position in shares of BankUnited during the fourth quarter worth $219,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of BankUnited by 49.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 1,818 shares during the period. Finally, Worth Venture Partners LLC acquired a new position in shares of BankUnited during the third quarter worth $226,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.
In other BankUnited news, Director Douglas J. Pauls sold 40,000 shares of BankUnited stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the sale, the director now directly owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
BankUnited (NYSE:BKU) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.24. The business had revenue of $285.37 million for the quarter, compared to analyst estimates of $270.33 million. BankUnited had a net margin of 45.09% and a return on equity of 10.83%. During the same quarter in the previous year, the business earned $0.59 earnings per share. equities analysts expect that BankUnited will post 3.18 EPS for the current year.
BankUnited announced that its board has authorized a stock repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of brokerages have recently commented on BKU. Barclays lifted their price target on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $41.00 price target on shares of BankUnited in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, January 12th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $50.00 target price (up previously from $42.00) on shares of BankUnited in a report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.09.
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BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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