BankUnited, Inc. (BKU) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its stake in BankUnited, Inc. (NYSE:BKU) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,115,833 shares of the financial services provider’s stock after buying an additional 43,169 shares during the period. Dimensional Fund Advisors LP owned 1.05% of BankUnited worth $41,632,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Guggenheim Capital LLC increased its stake in BankUnited by 46.9% in the fourth quarter. Guggenheim Capital LLC now owns 30,497 shares of the financial services provider’s stock valued at $1,149,000 after buying an additional 9,734 shares in the last quarter. AQR Capital Management LLC increased its stake in BankUnited by 4.4% in the fourth quarter. AQR Capital Management LLC now owns 37,914 shares of the financial services provider’s stock valued at $1,429,000 after buying an additional 1,603 shares in the last quarter. Norges Bank purchased a new stake in BankUnited during the fourth quarter valued at about $36,007,000. Quadrature Capital Ltd purchased a new stake in BankUnited during the fourth quarter valued at about $371,000. Finally, Highbridge Capital Management LLC purchased a new stake in BankUnited during the fourth quarter valued at about $768,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of BankUnited, Inc. (NYSE BKU) opened at 32.81 on Friday. BankUnited, Inc. has a 52-week low of $28.13 and a 52-week high of $41.00. The firm has a market cap of $3.51 billion, a P/E ratio of 15.23 and a beta of 1.07. The company has a 50 day moving average price of $33.57 and a 200-day moving average price of $36.01.
BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. BankUnited had a net margin of 19.38% and a return on equity of 9.66%. The company had revenue of $258.74 million for the quarter, compared to analyst estimates of $260.46 million. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts expect that BankUnited, Inc. will post $2.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.56%. BankUnited’s dividend payout ratio is presently 39.07%.
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Several analysts have issued reports on BKU shares. Keefe, Bruyette & Woods set a $41.00 price target on BankUnited and gave the company a “hold” rating in a research note on Monday, April 3rd. Barclays PLC set a $42.00 price target on BankUnited and gave the company a “buy” rating in a research note on Sunday, April 9th. J P Morgan Chase & Co downgraded BankUnited from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $39.00 in a research note on Wednesday, April 26th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price target (down previously from $43.00) on shares of BankUnited in a research note on Saturday, April 29th. Finally, BidaskClub raised BankUnited from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. BankUnited presently has an average rating of “Buy” and an average price target of $41.17.
In related news, Chairman John Adam Kanas sold 200,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $32.65, for a total value of $6,530,000.00. Following the sale, the chairman now owns 948,070 shares in the company, valued at approximately $30,954,485.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 502,915 shares of company stock worth $16,804,877 in the last 90 days. 5.10% of the stock is currently 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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