Citadel Advisors LLC raised its holdings in shares of BankUnited (NYSE:BKU) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,036,569 shares of the financial services provider’s stock after buying an additional 114,659 shares during the period. Citadel Advisors LLC’s holdings in BankUnited were worth $42,344,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Levin Capital Strategies L.P. raised its stake in shares of BankUnited by 1.3% during the first quarter. Levin Capital Strategies L.P. now owns 109,130 shares of the financial services provider’s stock valued at $4,363,000 after acquiring an additional 1,437 shares during the last quarter. Blair William & Co. IL raised its stake in BankUnited by 1.9% in the first quarter. Blair William & Co. IL now owns 83,658 shares of the financial services provider’s stock worth $3,345,000 after buying an additional 1,576 shares in the last quarter. Piermont Capital Management Inc. raised its stake in BankUnited by 2.2% in the first quarter. Piermont Capital Management Inc. now owns 76,132 shares of the financial services provider’s stock worth $3,044,000 after buying an additional 1,670 shares in the last quarter. First Financial Bank Trust Division raised its stake in BankUnited by 1.7% in the second quarter. First Financial Bank Trust Division now owns 111,045 shares of the financial services provider’s stock worth $4,537,000 after buying an additional 1,821 shares in the last quarter. Finally, HGK Asset Management Inc. raised its stake in BankUnited by 17.5% in the second quarter. HGK Asset Management Inc. now owns 16,718 shares of the financial services provider’s stock worth $683,000 after buying an additional 2,489 shares in the last quarter. Institutional investors and hedge funds own 94.66% of the company’s stock.
A number of brokerages have weighed in on BKU. Morgan Stanley decreased their target price on shares of BankUnited from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, July 31st. Sandler O’Neill set a $47.00 target price on shares of BankUnited and gave the company a “buy” rating in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. BankUnited presently has an average rating of “Hold” and a consensus price target of $44.10.
In related news, COO Thomas M. Cornish sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were 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 in the company, valued at $3,611,764.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.30% of the company’s stock.
NYSE:BKU opened at $38.28 on Thursday. BankUnited has a 52 week low of $30.37 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $4.22 billion, a PE ratio of 14.45, a PEG ratio of 1.36 and a beta of 0.96.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. BankUnited had a net margin of 45.30% and a return on equity of 11.47%. The firm had revenue of $287.24 million for the quarter, compared to analysts’ expectations of $285.63 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. equities analysts predict that BankUnited will post 3.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Monday, July 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, July 13th. BankUnited’s dividend payout ratio is currently 31.70%.
BankUnited Company Profile
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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