BankUnited, Inc. (BKU) Position Raised by Jennison Associates LLC
Jennison Associates LLC boosted its stake in BankUnited, Inc. (NYSE:BKU) by 16.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,411,374 shares of the financial services provider’s stock after purchasing an additional 345,760 shares during the quarter. Jennison Associates LLC owned about 2.26% of BankUnited worth $85,773,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its holdings in 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 valued at $110,000 after purchasing an additional 128 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BankUnited by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 276 shares during the period. Forward Management LLC purchased a new stake in BankUnited in the third quarter valued at approximately $192,000. QS Investors LLC grew its holdings in BankUnited by 9.6% in the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 550 shares during the period. Finally, LaSalle Street Capital Management LLC purchased a new stake in BankUnited in the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
In related news, Chairman John Adam Kanas sold 78,190 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total value of $2,594,344.20. Following the sale, the chairman now directly owns 565,076 shares of the company’s stock, valued at $18,749,221.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. ValuEngine cut shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $41.00 price target on shares of BankUnited in a research report on Thursday, September 28th. Zacks Investment Research cut shares of BankUnited from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, J P Morgan Chase & Co cut shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price target on the stock. in a research report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $40.27.
BankUnited, Inc. (NYSE:BKU) traded up $0.28 during midday trading on Monday, hitting $32.98. 977,400 shares of the stock were exchanged, compared to its average volume of 841,541. BankUnited, Inc. has a twelve month low of $30.37 and a twelve month high of $41.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $3,522.94, a PE ratio of 13.86, a P/E/G ratio of 1.56 and a beta of 1.08.
BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The business had revenue of $294.59 million for the quarter, compared to analysts’ expectations of $273.51 million. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. During the same period in the previous year, the company posted $0.47 earnings per share. equities analysts forecast that BankUnited, Inc. will post 2.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Monday, October 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.84 annualized dividend and a yield of 2.55%. BankUnited’s dividend payout ratio is presently 35.29%.
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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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