Pinnacle Associates Ltd. Decreases Holdings in BankUnited (BKU)
Pinnacle Associates Ltd. reduced its position in shares of BankUnited (NYSE:BKU) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,700 shares of the financial services provider’s stock after selling 1,675 shares during the quarter. Pinnacle Associates Ltd.’s holdings in BankUnited were worth $274,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. boosted its stake in BankUnited by 1.4% during the 1st quarter. BlackRock Inc. now owns 4,703,414 shares of the financial services provider’s stock valued at $188,042,000 after purchasing an additional 63,224 shares in the last quarter. Jennison Associates LLC boosted its stake in BankUnited by 1.0% during the 2nd quarter. Jennison Associates LLC now owns 3,415,826 shares of the financial services provider’s stock valued at $139,536,000 after purchasing an additional 32,205 shares in the last quarter. Brown Advisory Inc. boosted its stake in BankUnited by 9.9% during the 1st quarter. Brown Advisory Inc. now owns 2,917,215 shares of the financial services provider’s stock valued at $116,630,000 after purchasing an additional 262,194 shares in the last quarter. First Trust Advisors LP boosted its stake in BankUnited by 286.7% during the 2nd quarter. First Trust Advisors LP now owns 2,851,760 shares of the financial services provider’s stock valued at $116,494,000 after purchasing an additional 2,114,308 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in BankUnited by 5.5% during the 1st quarter. Millennium Management LLC now owns 2,809,667 shares of the financial services provider’s stock valued at $112,330,000 after purchasing an additional 146,209 shares in the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. Sandler O’Neill set a $47.00 price objective on BankUnited and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Morgan Stanley reduced their price objective on BankUnited from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. BankUnited has an average rating of “Hold” and a consensus price target of $44.10.
BKU opened at $40.01 on Friday. The firm has a market cap of $4.29 billion, a PE ratio of 15.10, a P/E/G ratio of 1.38 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.98 and a quick ratio of 0.98. BankUnited has a fifty-two week low of $30.37 and a fifty-two week high of $44.97.
BankUnited (NYSE:BKU) last released its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The business had revenue of $287.24 million during the quarter, compared to analyst estimates of $285.63 million. BankUnited had a return on equity of 11.47% and a net margin of 45.30%. During the same period last year, the company posted $0.60 EPS. equities research analysts forecast that BankUnited will post 3.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Monday, July 16th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, July 13th. BankUnited’s dividend payout ratio is presently 31.70%.
BankUnited Company 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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