BankUnited (BKU) Stake Lowered by NWQ Investment Management Company LLC
NWQ Investment Management Company LLC decreased its position in shares of BankUnited (NYSE:BKU) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 513,650 shares of the financial services provider’s stock after selling 6,400 shares during the period. NWQ Investment Management Company LLC’s holdings in BankUnited were worth $20,916,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Amica Retiree Medical Trust purchased a new stake in shares of BankUnited during the fourth quarter valued at approximately $138,000. Macquarie Group Ltd. purchased a new stake in shares of BankUnited during the third quarter valued at approximately $174,000. First Mercantile Trust Co. purchased a new stake in shares of BankUnited during the fourth quarter valued at approximately $219,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of BankUnited by 49.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,511 shares of the financial services provider’s stock valued at $224,000 after buying an additional 1,818 shares during the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in shares of BankUnited during the third quarter valued at approximately $226,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.
BankUnited (BKU) opened at $42.82 on Wednesday. The firm has a market cap of $4,566.17, a P/E ratio of 16.25, a P/E/G ratio of 1.53 and a beta of 0.98. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.58.
BankUnited declared that its board has authorized a stock buyback program on Tuesday, January 23rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other BankUnited news, insider Jeffrey Starr sold 2,805 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $42.89, for a total value of $120,306.45. Following the transaction, the insider now directly owns 48,104 shares in the company, valued at $2,063,180.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas J. Pauls sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total transaction of $1,684,800.00. Following the completion of the transaction, the director now owns 31,380 shares in the company, valued at $1,321,725.60. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of BankUnited from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Hovde Group cut shares of BankUnited from an “outperform” rating to a “market perform” rating and cut their price target for the company from $45.00 to $44.00 in a report on Wednesday, February 7th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Barclays increased their price target on shares of BankUnited from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $41.00 price objective on shares of BankUnited in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $43.09.
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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