Canada Pension Plan Investment Board Raises Position in BankUnited, Inc. (BKU)
Canada Pension Plan Investment Board increased its holdings in BankUnited, Inc. (NYSE:BKU) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,300 shares of the financial services provider’s stock after acquiring an additional 6,700 shares during the quarter. Canada Pension Plan Investment Board’s holdings in BankUnited were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of BKU. Principal Financial Group Inc. increased its stake in shares of BankUnited by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 258 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of BankUnited by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,115,833 shares of the financial services provider’s stock worth $41,632,000 after acquiring an additional 43,169 shares in the last quarter. Aperio Group LLC increased its stake in shares of BankUnited by 231.3% in the 2nd quarter. Aperio Group LLC now owns 19,677 shares of the financial services provider’s stock worth $663,000 after acquiring an additional 13,737 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of BankUnited in the 2nd quarter worth about $653,000. Finally, Russell Investments Group Ltd. increased its stake in shares of BankUnited by 274.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 266,018 shares of the financial services provider’s stock worth $8,968,000 after acquiring an additional 195,012 shares in the last quarter. Institutional investors own 94.74% of the company’s stock.
Shares of BankUnited, Inc. (NYSE BKU) opened at $34.60 on Monday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $3,695.99, a PE ratio of 14.54, a PEG ratio of 1.63 and a beta of 1.08. BankUnited, Inc. has a 1-year low of $30.37 and a 1-year high of $41.00.
BankUnited (NYSE:BKU) last announced its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $294.59 million for the quarter, compared to the consensus estimate of $273.51 million. BankUnited had a net margin of 19.82% and a return on equity of 10.23%. During the same quarter last year, the firm posted $0.47 EPS. sell-side analysts forecast that BankUnited, Inc. will post 2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, October 13th. BankUnited’s payout ratio is presently 35.29%.
Several research analysts recently issued reports on BKU shares. J P Morgan Chase & Co lowered shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price target for the company. in a research note on Wednesday, November 1st. ValuEngine downgraded shares of BankUnited from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Deutsche Bank AG cut their price objective on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. BidaskClub downgraded shares of BankUnited from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. BankUnited has a consensus rating of “Hold” and an average price target of $40.27.
In other news, Chairman John Adam Kanas sold 78,190 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total transaction of $2,594,344.20. Following the sale, the chairman now owns 565,076 shares of the company’s stock, valued at approximately $18,749,221.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.
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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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