Fisher Asset Management LLC Purchases 60,147 Shares of BankUnited, Inc. $BKU

Fisher Asset Management LLC raised its position in BankUnited, Inc. (NYSE:BKU) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 636,025 shares of the financial services provider’s stock after purchasing an additional 60,147 shares during the period. Fisher Asset Management LLC owned 0.85% of BankUnited worth $24,271,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of BankUnited in the first quarter worth $9,100,000. Frontier Capital Management Co. LLC increased its stake in BankUnited by 57.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 621,570 shares of the financial services provider’s stock worth $22,122,000 after acquiring an additional 225,867 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of BankUnited by 9.4% in the 3rd quarter. American Century Companies Inc. now owns 2,163,936 shares of the financial services provider’s stock valued at $82,576,000 after acquiring an additional 185,937 shares in the last quarter. TrueMark Investments LLC bought a new stake in shares of BankUnited during the 3rd quarter valued at about $6,334,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of BankUnited during the third quarter worth about $6,121,000. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

BankUnited Stock Up 0.3%

BKU opened at $47.35 on Wednesday. BankUnited, Inc. has a 12 month low of $28.21 and a 12 month high of $52.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $47.43 and its 200-day moving average price is $42.76. The company has a market cap of $3.49 billion, a P/E ratio of 13.38 and a beta of 1.29.

BankUnited (NYSE:BKU) last posted 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. The business had revenue of $260.80 million for the quarter, compared to analyst estimates of $279.76 million. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.During the same period last year, the company earned $0.91 EPS. On average, equities analysts expect that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BKU. Zacks Research raised shares of BankUnited from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Hovde Group reissued an “outperform” rating and issued a $51.00 price target on shares of BankUnited in a report on Monday, December 8th. Raymond James Financial set a $55.00 price objective on shares of BankUnited in a report on Wednesday, January 21st. Keefe, Bruyette & Woods increased their target price on BankUnited from $42.00 to $55.00 and gave the company a “market perform” rating in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their price target on BankUnited from $48.00 to $53.00 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.55.

Insider Transactions at BankUnited

In related news, insider Jay D. Richards sold 3,506 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total value of $174,703.98. Following the sale, the insider directly owned 35,687 shares of the company’s stock, valued at $1,778,283.21. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sanjiv Sobti sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $50.88, for a total value of $254,400.00. Following the transaction, the director directly owned 18,816 shares of the company’s stock, valued at $957,358.08. The trade was a 20.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.15% of the company’s stock.

About BankUnited

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.