Brown Advisory Inc. increased its holdings in BankUnited (NYSE:BKU) by 282.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,655,021 shares of the financial services provider’s stock after buying an additional 1,960,555 shares during the period. Brown Advisory Inc.’s holdings in BankUnited were worth $108,112,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Macquarie Group Ltd. bought a new position in BankUnited in the third quarter worth approximately $174,000. Forward Management LLC bought a new position in BankUnited in the third quarter worth approximately $192,000. First Mercantile Trust Co. bought a new position in BankUnited in the fourth quarter worth approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in BankUnited by 49.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,818 shares in the last quarter. Finally, Worth Venture Partners LLC bought a new position in BankUnited in the third quarter worth approximately $226,000. 97.98% of the stock is owned by institutional investors.
A number of equities analysts recently commented on BKU shares. Barclays boosted their price objective on shares of BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $46.00 price objective on shares of BankUnited in a research note on Wednesday, December 13th. JPMorgan Chase & Co. downgraded shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, November 1st. Finally, Hovde Group downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $45.00 to $44.00 in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. BankUnited presently has an average rating of “Hold” and an average target price of $43.09.
BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The business had revenue of $285.37 million for the quarter, compared to analyst estimates of $270.33 million. During the same period in the previous year, the company earned $0.59 earnings per share. sell-side analysts anticipate that BankUnited will post 3.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Thursday, January 11th. BankUnited’s dividend payout ratio is currently 15.05%.
BankUnited declared that its board has initiated a stock buyback program on Tuesday, January 23rd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other BankUnited news, Director Douglas J. Pauls sold 40,000 shares of BankUnited stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $42.12, for a total value of $1,684,800.00. Following the transaction, the director now directly owns 31,380 shares of the company’s stock, valued at $1,321,725.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.
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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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