Summit Global Investments Acquires New Shares in BankUnited, Inc. $BKU

Summit Global Investments bought a new stake in shares of BankUnited, Inc. (NYSE:BKU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,300 shares of the financial services provider’s stock, valued at approximately $698,000.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of BankUnited by 7.0% in the second quarter. American Century Companies Inc. now owns 1,977,999 shares of the financial services provider’s stock valued at $70,397,000 after purchasing an additional 128,728 shares in the last quarter. Geode Capital Management LLC boosted its stake in BankUnited by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,776,183 shares of the financial services provider’s stock worth $63,223,000 after purchasing an additional 13,555 shares during the period. Ameriprise Financial Inc. grew its holdings in BankUnited by 1.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,475,797 shares of the financial services provider’s stock valued at $52,524,000 after buying an additional 14,358 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of BankUnited by 16.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 798,347 shares of the financial services provider’s stock valued at $28,413,000 after buying an additional 114,038 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its holdings in shares of BankUnited by 57.1% in the second quarter. Frontier Capital Management Co. LLC now owns 621,570 shares of the financial services provider’s stock worth $22,122,000 after buying an additional 225,867 shares in the last quarter. 99.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of BankUnited from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Hovde Group reissued an “outperform” rating and issued a $51.00 price target on shares of BankUnited in a report on Monday, December 8th. Royal Bank Of Canada boosted their price target on shares of BankUnited from $48.00 to $53.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. Piper Sandler increased their price objective on BankUnited from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Finally, Raymond James Financial set a $55.00 price objective on BankUnited in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.91.

BankUnited Stock Down 0.3%

Shares of NYSE:BKU opened at $47.48 on Friday. The firm has a market capitalization of $3.57 billion, a PE ratio of 13.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current ratio of 0.82. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $52.11. The firm has a fifty day moving average of $45.53 and a 200 day moving average of $40.91.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.09. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.The firm had revenue of $288.20 million during the quarter, compared to analyst estimates of $279.76 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. As a group, research analysts anticipate that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 9th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.24 annualized dividend and a yield of 2.6%. BankUnited’s dividend payout ratio is currently 35.03%.

BankUnited Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.