Geode Capital Management LLC boosted its position in BankUnited, Inc. (NYSE:BKU) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 804,665 shares of the financial services provider’s stock after buying an additional 79,595 shares during the period. Geode Capital Management LLC owned about 0.76% of BankUnited worth $30,022,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Scout Investments Inc. bought a new position in shares of BankUnited during the first quarter worth approximately $32,910,000. Norges Bank bought a new position in shares of BankUnited during the fourth quarter worth approximately $36,007,000. Boston Partners bought a new position in shares of BankUnited during the first quarter worth approximately $26,011,000. Wellington Management Group LLP increased its position in shares of BankUnited by 58.2% in the first quarter. Wellington Management Group LLP now owns 1,716,930 shares of the financial services provider’s stock worth $64,058,000 after buying an additional 631,784 shares during the last quarter. Finally, Strs Ohio increased its stake in BankUnited by 119.7% in the first quarter. Strs Ohio now owns 1,140,000 shares of the financial services provider’s stock worth $42,533,000 after buying an additional 621,000 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.
BankUnited, Inc. (NYSE:BKU) traded down 1.09% during mid-day trading on Friday, reaching $34.54. The company’s stock had a trading volume of 872,524 shares. The firm has a market capitalization of $3.69 billion, a PE ratio of 15.45 and a beta of 1.07. BankUnited, Inc. has a 12 month low of $28.13 and a 12 month high of $41.00. The stock’s 50-day moving average is $33.72 and its 200-day moving average is $35.86.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $269.48 million for the quarter, compared to analysts’ expectations of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.95%. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, equities analysts anticipate that BankUnited, Inc. will post $2.36 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, July 12th. This represents a $0.84 annualized dividend and a dividend yield of 2.43%. BankUnited’s dividend payout ratio (DPR) is currently 37.67%.
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BKU has been the topic of a number of research analyst reports. Bank of America Corporation restated a “buy” rating and issued a $46.00 target price on shares of BankUnited in a research report on Monday, July 10th. BidaskClub downgraded BankUnited from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Barclays PLC set a $42.00 price objective on BankUnited and gave the company a “buy” rating in a report on Sunday, April 9th. Wedbush reiterated a “neutral” rating and issued a $35.00 price objective on shares of BankUnited in a report on Tuesday, June 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $39.00 price objective (down previously from $40.00) on shares of BankUnited in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $41.17.
In other news, Chairman John Adam Kanas sold 102,915 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $33.92, for a total transaction of $3,490,876.80. Following the sale, the chairman now directly owns 1,145,155 shares of the company’s stock, valued at $38,843,657.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 803,315 shares of company stock worth $26,793,097 over the last three months. 5.10% of the stock is owned by insiders.
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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