Oppenheimer Asset Management Inc. Buys Shares of 11,792 BankUnited, Inc. $BKU

Oppenheimer Asset Management Inc. purchased a new position in BankUnited, Inc. (NYSE:BKU) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 11,792 shares of the financial services provider’s stock, valued at approximately $571,000.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of BankUnited by 47.2% in the second quarter. Assenagon Asset Management S.A. now owns 254,990 shares of the financial services provider’s stock worth $12,354,000 after acquiring an additional 81,741 shares during the last quarter. GAMMA Investing LLC increased its position in BankUnited by 8.0% during the second quarter. GAMMA Investing LLC now owns 6,620 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 491 shares during the period. Bank of America Corp DE raised its stake in BankUnited by 9.0% during the 1st quarter. Bank of America Corp DE now owns 819,548 shares of the financial services provider’s stock valued at $37,011,000 after purchasing an additional 67,981 shares during the last quarter. Edgestream Partners L.P. acquired a new position in BankUnited during the 1st quarter valued at $6,797,000. Finally, Amundi boosted its holdings in BankUnited by 31.4% in the 1st quarter. Amundi now owns 15,300 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 3,660 shares during the period. 99.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BKU shares. Zacks Research downgraded shares of BankUnited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Jefferies Financial Group reiterated a “buy” rating on shares of BankUnited in a research note on Wednesday, July 22nd. Hovde Group decreased their target price on BankUnited from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Monday, July 27th. Cantor Fitzgerald restated an “overweight” rating and set a $56.00 price target on shares of BankUnited in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods cut their price target on BankUnited from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.64.

BankUnited Stock Down 1.0%

NYSE BKU opened at $47.88 on Tuesday. BankUnited, Inc. has a 1-year low of $35.10 and a 1-year high of $52.11. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 13.12 and a beta of 1.18. The stock’s 50 day moving average is $47.87 and its two-hundred day moving average is $47.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). The company had revenue of $284.57 million for the quarter, compared to the consensus estimate of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.BankUnited’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. Equities analysts forecast that BankUnited, Inc. will post 4.01 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. BankUnited’s dividend payout ratio (DPR) is presently 36.16%.

Insider Activity

In related news, insider Jay D. Richards sold 4,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the sale, the insider owned 40,502 shares in the company, valued at $1,971,232.34. This trade represents a 8.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas J. Pauls sold 3,000 shares of BankUnited stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $47.90, for a total transaction of $143,700.00. Following the transaction, the director directly owned 42,472 shares of the company’s stock, valued at $2,034,408.80. This represents a 6.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,000 shares of company stock worth $384,350. Corporate insiders own 1.00% of the company’s stock.

BankUnited Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.