Rafferty Asset Management LLC Decreases Holdings in BankUnited (BKU)

Rafferty Asset Management LLC decreased its position in BankUnited (NYSE:BKU) by 7.6% in the third quarter, HoldingsChannel reports. The firm owned 35,386 shares of the financial services provider’s stock after selling 2,925 shares during the quarter. Rafferty Asset Management LLC’s holdings in BankUnited were worth $1,253,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY raised its holdings in BankUnited by 1,225.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 2,796 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 2,585 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in BankUnited in the second quarter worth $121,000. FTB Advisors Inc. bought a new position in BankUnited in the second quarter worth $123,000. Signition LP bought a new position in BankUnited in the third quarter worth $207,000. Finally, MML Investors Services LLC bought a new position in BankUnited in the third quarter worth $240,000. Institutional investors and hedge funds own 96.37% of the company’s stock.

Shares of NYSE:BKU opened at $34.54 on Friday. BankUnited has a 1-year low of $29.86 and a 1-year high of $44.97. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.61. The firm has a market cap of $3.46 billion, a PE ratio of 13.03, a P/E/G ratio of 1.13 and a beta of 0.97.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. BankUnited had a return on equity of 11.89% and a net margin of 46.00%. The firm had revenue of $290.70 million during the quarter, compared to the consensus estimate of $292.57 million. During the same period last year, the company earned $0.62 earnings per share. On average, sell-side analysts predict that BankUnited will post 3.36 EPS for the current fiscal year.

In other news, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $31.82, for a total transaction of $31,820.00. Following the completion of the transaction, the insider now directly owns 24,118 shares in the company, valued at $767,434.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

A number of research firms have issued reports on BKU. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $39.00 price objective on shares of BankUnited in a report on Thursday, November 15th. BMO Capital Markets decreased their price objective on BankUnited from $45.00 to $40.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Stephens set a $40.00 price objective on BankUnited and gave the stock a “buy” rating in a report on Friday, October 26th. Zacks Investment Research upgraded BankUnited from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, FIG Partners upgraded BankUnited from a “market perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.91.

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BankUnited 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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Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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