Alliancebernstein L.P. lifted its holdings in shares of BankUnited (NYSE:BKU) by 2,161.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,377,964 shares of the financial services provider’s stock after acquiring an additional 1,317,021 shares during the period. Alliancebernstein L.P. owned 1.29% of BankUnited worth $56,111,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of BankUnited by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 16,183 shares of the financial services provider’s stock worth $576,000 after acquiring an additional 1,675 shares in the last quarter. Maltese Capital Management LLC increased its position in BankUnited by 1.1% during the fourth quarter. Maltese Capital Management LLC now owns 155,000 shares of the financial services provider’s stock worth $6,312,000 after buying an additional 1,700 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 buying an additional 1,818 shares during the period. Cambiar Investors LLC increased its position in BankUnited by 2.0% during the third quarter. Cambiar Investors LLC now owns 109,220 shares of the financial services provider’s stock worth $3,885,000 after buying an additional 2,131 shares during the period. Finally, GW&K Investment Management LLC increased its position in BankUnited by 0.5% during the fourth quarter. GW&K Investment Management LLC now owns 456,755 shares of the financial services provider’s stock worth $18,599,000 after buying an additional 2,145 shares during the period. 96.99% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on BKU shares. Barclays lifted their price target on BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Zacks Investment Research lowered BankUnited from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price target on shares of BankUnited in a research report on Wednesday, December 13th. Hovde Group lowered BankUnited from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $45.00 to $44.00 in a research report on Wednesday, February 7th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of BankUnited in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. BankUnited currently has an average rating of “Hold” and a consensus target price of $43.09.
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 Zacks’ 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 return on equity of 10.83% and a net margin of 45.09%. During the same quarter in the previous year, the company posted $0.59 earnings per share. sell-side analysts forecast that BankUnited will post 3.18 EPS for the current year.
BankUnited declared that its board has initiated a share buyback plan 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. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Douglas J. Pauls sold 40,000 shares of the business’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 transaction, the director now owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
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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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