NGAM Advisors L.P. Has $3.44 Million Position in BankUnited, Inc. (NYSE:BKU)
NGAM Advisors L.P. raised its position in shares of BankUnited, Inc. (NYSE:BKU) by 63.1% during the second quarter, Holdings Channel reports. The fund owned 102,031 shares of the financial services provider’s stock after buying an additional 39,479 shares during the period. NGAM Advisors L.P.’s holdings in BankUnited were worth $3,439,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in BKU. Public Employees Retirement Association of Colorado increased its stake 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 worth $110,000 after buying an additional 128 shares during the last quarter. Karp Capital Management Corp acquired a new stake in BankUnited during the first quarter worth $222,000. Worth Venture Partners LLC acquired a new stake in BankUnited during the first quarter worth $259,000. Nomura Holdings Inc. acquired a new stake in BankUnited during the first quarter worth $298,000. Finally, Parametrica Management Ltd acquired a new stake in BankUnited during the first quarter worth $308,000.
BankUnited, Inc. (NYSE BKU) opened at 34.19 on Thursday. The firm’s 50-day moving average is $33.73 and its 200 day moving average is $35.78. BankUnited, Inc. has a 12 month low of $28.13 and a 12 month high of $41.00. The firm has a market capitalization of $3.65 billion, a P/E ratio of 15.30 and a beta of 1.07.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.95%. The firm had revenue of $269.48 million during the quarter, compared to the consensus estimate of $258.47 million. During the same period last year, the firm earned $0.52 EPS. On average, analysts expect that BankUnited, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.46%. The ex-dividend date was Wednesday, July 12th. BankUnited’s payout ratio is 37.67%.
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BKU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $41.00 price target on shares of BankUnited in a research report on Friday, May 26th. Deutsche Bank AG reiterated a “buy” rating and issued a $42.00 price target (down from $43.00) on shares of BankUnited in a research report on Saturday, April 29th. Bank of America Corporation reiterated a “buy” rating and issued a $46.00 price target on shares of BankUnited in a research report on Monday, July 10th. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price target on shares of BankUnited in a research report on Friday, July 7th. Finally, Wedbush reiterated a “neutral” rating and issued a $35.00 price target on shares of BankUnited in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. BankUnited has an average rating of “Buy” and an average price target of $41.17.
In other BankUnited news, Chairman John Adam Kanas sold 102,915 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $33.92, for a total value of $3,490,876.80. Following the completion of the transaction, the chairman now directly owns 1,145,155 shares of the company’s stock, valued at approximately $38,843,657.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Starr sold 7,445 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the transaction, the insider now directly owns 29,000 shares of the company’s stock, valued at $1,017,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 810,760 shares of company stock valued at $27,054,267. Insiders own 5.10% of the company’s stock.
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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