First Manhattan Co. Has $185,000 Stake in BankUnited, Inc. (NYSE:BKU)
First Manhattan Co. held its position in shares of BankUnited, Inc. (NYSE:BKU) during the second quarter, Holdings Channel reports. The firm owned 5,491 shares of the financial services provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in BankUnited were worth $185,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BankUnited by 5.2% in the first quarter. Vanguard Group Inc. now owns 8,468,204 shares of the financial services provider’s stock valued at $315,948,000 after buying an additional 421,232 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of BankUnited by 11.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 7,666,132 shares of the financial services provider’s stock valued at $258,425,000 after buying an additional 792,163 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of BankUnited by 3.0% in the first quarter. Neuberger Berman Group LLC now owns 5,932,281 shares of the financial services provider’s stock valued at $221,333,000 after buying an additional 170,686 shares in the last quarter. BlackRock Inc. boosted its position in shares of BankUnited by 14,458.5% in the first quarter. BlackRock Inc. now owns 4,958,929 shares of the financial services provider’s stock valued at $185,017,000 after buying an additional 4,924,867 shares in the last quarter. Finally, FMR LLC boosted its position in shares of BankUnited by 9.3% in the first quarter. FMR LLC now owns 4,576,449 shares of the financial services provider’s stock valued at $170,747,000 after buying an additional 388,495 shares in the last quarter.
BankUnited, Inc. (NYSE:BKU) opened at 33.24 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 14.87 and a beta of 1.07. BankUnited, Inc. has a 1-year low of $28.13 and a 1-year high of $41.00. The company’s 50 day moving average is $33.74 and its 200-day moving average is $35.75.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The firm had revenue of $269.48 million for the quarter, compared to the consensus estimate of $258.47 million. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities research analysts forecast that BankUnited, Inc. will post $2.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Wednesday, July 12th. BankUnited’s dividend payout ratio (DPR) is presently 37.67%.
WARNING: This story was published by Daily Political and is owned by of Daily Political. If you are viewing this story on another site, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/08/12/first-manhattan-co-has-185000-stake-in-bankunited-inc-nysebku.html.
Several research analysts have recently weighed in on BKU shares. Bank of America Corporation reiterated a “buy” rating and set a $46.00 price target on shares of BankUnited in a research note on Monday, July 10th. BidaskClub cut shares of BankUnited from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Wedbush reiterated a “neutral” rating and set a $35.00 price target on shares of BankUnited in a research note on Tuesday, June 27th. Morgan Stanley reiterated an “overweight” rating and set a $39.00 price target (down previously from $40.00) on shares of BankUnited in a research note on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $41.00 price target on shares of BankUnited in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.17.
In related news, insider Jeffrey Starr sold 7,445 shares of the 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 sale, the insider now directly owns 29,000 shares of the company’s stock, valued at $1,017,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John Adam Kanas sold 200,000 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $33.35, for a total transaction of $6,670,000.00. Following the sale, the chairman now directly owns 742,866 shares in the company, valued at $24,774,581.10. The disclosure for this sale can be found here. Insiders have sold 810,760 shares of company stock worth $27,054,267 over the last three months. 5.10% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding BKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BankUnited, Inc. (NYSE:BKU).
Receive News & Ratings for BankUnited Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BankUnited Inc. and related companies with MarketBeat.com's FREE daily email newsletter.