Brandywine Global Investment Management LLC grew its position in shares of BankUnited (NYSE:BKU) by 30.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,578 shares of the financial services provider’s stock after purchasing an additional 66,514 shares during the period. Brandywine Global Investment Management LLC owned 0.27% of BankUnited worth $11,670,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of BankUnited by 30.8% during the 3rd 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 during the last quarter. BlackRock Inc. boosted its stake in shares of BankUnited by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,640,190 shares of the financial services provider’s stock worth $188,949,000 after purchasing an additional 64,553 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of BankUnited by 20.6% during the 4th quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock worth $118,404,000 after purchasing an additional 496,381 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of BankUnited by 282.3% during the 4th 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 during the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of 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 acquiring an additional 2,072,682 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.
In related news, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 10.83%. The firm had revenue of $285.37 million for the quarter, compared to analyst estimates of $270.33 million. During the same quarter last year, the firm posted $0.59 earnings per share. equities analysts expect that BankUnited will post 3.18 EPS for the current fiscal year.
BankUnited declared that its board has approved a stock buyback plan on Tuesday, January 23rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several equities research analysts recently issued reports on the stock. JMP Securities assumed coverage on shares of BankUnited in a research report on Tuesday, January 9th. They issued an “outperform” rating on the stock. Barclays raised their target price on shares of BankUnited from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Friday, January 12th. BMO Capital Markets raised shares of BankUnited from a “market perform” rating to an “outperform” rating in a research report on Monday, November 20th. Finally, ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two 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 has a consensus rating of “Hold” and an average price target 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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