Endeavour Capital Advisors Inc. cut its position in BankUnited (NYSE:BKU) by 83.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,532 shares of the financial services provider’s stock after selling 156,100 shares during the quarter. BankUnited makes up approximately 0.5% of Endeavour Capital Advisors Inc.’s investment portfolio, making the stock its 29th largest holding. Endeavour Capital Advisors Inc.’s holdings in BankUnited were worth $1,243,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in BKU. Citadel Advisors LLC raised its holdings in BankUnited by 1,334.0% in the fourth quarter. Citadel Advisors LLC now owns 2,228,050 shares of the financial services provider’s stock worth $90,727,000 after purchasing an additional 2,072,682 shares in the last quarter. Brown Advisory Inc. raised its holdings in BankUnited by 282.3% in the fourth quarter. Brown Advisory Inc. now owns 2,655,021 shares of the financial services provider’s stock worth $108,112,000 after purchasing an additional 1,960,555 shares in the last quarter. Alliancebernstein L.P. raised its holdings in BankUnited by 2,161.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,377,964 shares of the financial services provider’s stock worth $56,111,000 after purchasing an additional 1,317,021 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in BankUnited by 30.8% in the third quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock worth $167,747,000 after purchasing an additional 1,106,515 shares in the last quarter. Finally, NWQ Investment Management Company LLC bought a new position in BankUnited in the third quarter worth about $18,498,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
Shares of BankUnited (BKU) opened at $43.16 on Monday. The company has a market capitalization of $4,575.71, a P/E ratio of 7.73, a P/E/G ratio of 1.53 and a beta of 0.98. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.96 and a quick ratio of 0.96.
BankUnited announced that its board has approved a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Douglas J. Pauls sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the sale, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on BKU shares. BMO Capital Markets upgraded shares of BankUnited from a “market perform” rating to an “outperform” rating in a report on Monday, November 20th. Barclays restated a “buy” rating and set a $42.00 price objective on shares of BankUnited in a report on Tuesday, December 5th. Morgan Stanley restated an “overweight” rating and set a $46.00 price objective on shares of BankUnited in a report on Wednesday, December 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price objective on shares of BankUnited in a report on Thursday, December 14th. Finally, JMP Securities started coverage on shares of BankUnited in a report on Tuesday, January 9th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $43.09.
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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