CIBC Asset Management Inc lifted its stake in shares of BankUnited (NYSE:BKU) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,503 shares of the financial services provider’s stock after purchasing an additional 6,770 shares during the quarter. CIBC Asset Management Inc’s holdings in BankUnited were worth $1,540,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of BankUnited by 31.8% during the second quarter. Millennium Management LLC now owns 3,703,524 shares of the financial services provider’s stock worth $151,289,000 after purchasing an additional 893,857 shares during the last quarter. Jennison Associates LLC raised its stake in shares of BankUnited by 1.0% during the second quarter. Jennison Associates LLC now owns 3,415,826 shares of the financial services provider’s stock worth $139,536,000 after purchasing an additional 32,205 shares during the last quarter. FMR LLC raised its stake in shares of BankUnited by 1.0% during the second quarter. FMR LLC now owns 3,043,731 shares of the financial services provider’s stock worth $124,336,000 after purchasing an additional 28,720 shares during the last quarter. First Trust Advisors LP raised its stake in shares of BankUnited by 286.7% during the second quarter. First Trust Advisors LP now owns 2,851,760 shares of the financial services provider’s stock worth $116,494,000 after purchasing an additional 2,114,308 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of BankUnited by 11.0% during the second quarter. LSV Asset Management now owns 2,005,600 shares of the financial services provider’s stock worth $81,928,000 after purchasing an additional 199,100 shares during the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.
Shares of BKU stock opened at $34.50 on Friday. BankUnited has a 1-year low of $29.86 and a 1-year high of $44.97. The firm has a market cap of $3.52 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.19 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. BankUnited had a return on equity of 11.89% and a net margin of 46.00%. The firm had revenue of $290.70 million for the quarter, compared to analyst estimates of $292.57 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities analysts predict that BankUnited will post 3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, October 15th. BankUnited’s dividend payout ratio (DPR) is 31.70%.
A number of research analysts recently weighed in on the company. Morgan Stanley dropped their price objective on BankUnited from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, July 31st. BMO Capital Markets dropped their price objective on BankUnited from $45.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, November 5th. Barclays dropped their price objective on BankUnited from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, October 3rd. Zacks Investment Research raised BankUnited from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, Stephens set a $40.00 price objective on BankUnited and gave the stock a “buy” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.09.
In other BankUnited news, COO Thomas M. Cornish sold 10,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $40.02, for a total value of $400,200.00. Following the sale, the chief operating officer now owns 90,249 shares of the company’s stock, valued at $3,611,764.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $31.82, for a total value of $31,820.00. Following the completion of the sale, the insider now directly owns 24,118 shares in the company, valued at approximately $767,434.76. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
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BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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