CIBC Asset Management Inc Raises Position in BankUnited, Inc. (NYSE:BKU)
CIBC Asset Management Inc boosted its position in shares of BankUnited, Inc. (NYSE:BKU) by 24.6% during the second quarter, Holdings Channel reports. The institutional investor owned 32,117 shares of the financial services provider’s stock after buying an additional 6,350 shares during the period. CIBC Asset Management Inc’s holdings in BankUnited were worth $1,083,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its position in shares of BankUnited by 4.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock worth $110,000 after buying an additional 128 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of BankUnited during the first quarter worth approximately $222,000. Janney Montgomery Scott LLC raised its position in shares of BankUnited by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 6,710 shares of the financial services provider’s stock worth $226,000 after buying an additional 738 shares in the last quarter. Worth Venture Partners LLC purchased a new position in shares of BankUnited during the first quarter worth approximately $259,000. Finally, Nomura Holdings Inc. purchased a new position in shares of BankUnited during the first quarter worth approximately $298,000.
Shares of BankUnited, Inc. (NYSE BKU) opened at 33.24 on Friday. The stock’s 50 day moving average price is $33.74 and its 200-day moving average price is $35.75. The company has a market capitalization of $3.55 billion, a P/E ratio of 14.87 and a beta of 1.07. BankUnited, Inc. has a 52-week low of $28.13 and a 52-week high of $41.00.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The company had revenue of $269.48 million during the quarter, compared to analysts’ expectations of $258.47 million. BankUnited had a return on equity of 9.81% and a net margin of 19.54%. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities analysts expect that BankUnited, Inc. will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, July 12th. BankUnited’s dividend payout ratio (DPR) is presently 37.67%.
BKU has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $41.00 price objective on shares of BankUnited in a report on Friday, May 26th. Deutsche Bank AG reaffirmed 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. Bank of America Corporation reaffirmed a “buy” rating and issued a $46.00 price objective on shares of BankUnited in a report on Monday, July 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $40.00 price objective on shares of BankUnited in a report on Friday, July 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of BankUnited in a report on Tuesday, June 27th. One research 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. BankUnited currently has an average rating of “Buy” and an average target price of $41.17.
In other news, insider Jeffrey Starr sold 7,445 shares of BankUnited stock in a transaction on Friday, August 4th. The stock was sold at an average price of $35.08, for a total value of $261,170.60. Following the completion of the transaction, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman John Adam Kanas sold 102,915 shares of BankUnited stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $33.92, for a total value of $3,490,876.80. Following the completion of the transaction, the chairman now owns 1,145,155 shares of the company’s stock, valued at $38,843,657.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 810,760 shares of company stock valued at $27,054,267. 5.10% of the stock is owned by company insiders.
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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