Cadence Capital Management LLC lessened its position in shares of BankUnited (NYSE:BKU) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,781 shares of the financial services provider’s stock after selling 1,428 shares during the period. Cadence Capital Management LLC’s holdings in BankUnited were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of BankUnited during the 3rd quarter worth approximately $174,000. Forward Management LLC bought a new stake in shares of BankUnited during the 3rd quarter worth approximately $192,000. QS Investors LLC lifted its holdings in shares of BankUnited by 9.6% during the 2nd quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 550 shares during the period. First Mercantile Trust Co. bought a new stake in shares of BankUnited during the 4th quarter worth approximately $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of BankUnited by 49.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 1,818 shares during the period. 96.43% of the stock is owned by institutional investors.
BankUnited (NYSE:BKU) opened at $40.63 on Thursday. The stock has a market cap of $4,264.31, a P/E ratio of 15.06, a P/E/G ratio of 1.44 and a beta of 1.01. BankUnited has a 12-month low of $30.37 and a 12-month high of $43.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86.
BankUnited declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 23rd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Thursday, January 11th. BankUnited’s dividend payout ratio is 15.05%.
In related news, insider Mark Bagnoli sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the transaction, the insider now directly owns 19,699 shares in the company, valued at approximately $706,800.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Douglas J. Pauls sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the transaction, the director now owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on BKU shares. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price target on shares of BankUnited in a report on Wednesday, December 13th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of BankUnited in a report on Tuesday, January 9th. Barclays reaffirmed a “buy” rating and set a $42.00 price target on shares of BankUnited in a report on Tuesday, December 5th. JPMorgan Chase & Co. downgraded shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price target for the company. in a report on Wednesday, November 1st. Finally, JMP Securities started coverage on shares of BankUnited in a report on Tuesday, January 9th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $43.09.
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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