BankUnited, Inc. (BKU) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama boosted its stake in shares of BankUnited, Inc. (NYSE:BKU) by 18.0% during the second quarter, Holdings Channel reports. The institutional investor owned 146,989 shares of the financial services provider’s stock after buying an additional 22,400 shares during the period. Retirement Systems of Alabama’s holdings in BankUnited were worth $4,955,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of BankUnited by 21.6% in the first quarter. Bank of Montreal Can now owns 331,555 shares of the financial services provider’s stock valued at $12,370,000 after buying an additional 58,939 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of BankUnited by 0.6% in the first quarter. Douglas Lane & Associates LLC now owns 1,664,374 shares of the financial services provider’s stock valued at $62,098,000 after buying an additional 9,774 shares in the last quarter. First Manhattan Co. raised its stake in shares of BankUnited by 480.4% in the first quarter. First Manhattan Co. now owns 31,871 shares of the financial services provider’s stock valued at $962,000 after buying an additional 26,380 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of BankUnited by 6.6% in the first quarter. ProShare Advisors LLC now owns 18,570 shares of the financial services provider’s stock valued at $693,000 after buying an additional 1,146 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in shares of BankUnited by 383.7% in the first quarter. Sit Investment Associates Inc. now owns 17,775 shares of the financial services provider’s stock valued at $663,000 after buying an additional 14,100 shares in the last quarter. 99.90% of the stock is owned by hedge funds and other institutional investors.
BankUnited, Inc. (NYSE BKU) opened at 32.85 on Friday. The stock’s 50 day moving average price is $33.81 and its 200 day moving average price is $35.59. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.70 and a beta of 1.07. BankUnited, Inc. has a 12-month low of $28.13 and a 12-month high of $41.00.
BankUnited (NYSE:BKU) last posted 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 company had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities research analysts anticipate that BankUnited, Inc. will post $2.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Wednesday, July 12th. BankUnited’s payout ratio is 37.67%.
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Several analysts recently weighed in on BKU shares. J P Morgan Chase & Co lowered BankUnited from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $39.00 in a report on Wednesday, April 26th. Keefe, Bruyette & Woods raised BankUnited from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $42.00 to $41.00 in a report on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price objective (down from $43.00) on shares of BankUnited in a report on Saturday, April 29th. BidaskClub raised BankUnited from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Wedbush reissued a “neutral” rating and issued a $35.00 price objective on shares of BankUnited in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $41.17.
In other news, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the sale, the insider now owns 29,000 shares of the company’s stock, valued at $1,017,320. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman John Adam Kanas sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $33.92, for a total transaction of $6,784,000.00. Following the sale, the chairman now directly owns 1,145,155 shares of the company’s stock, valued at approximately $38,843,657.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 810,760 shares of company stock valued at $27,054,267. Company insiders own 5.10% of the company’s stock.
BankUnited Company Profile
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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