Wellington Management Group LLP Sells 172,444 Shares of BankUnited, Inc. $BKU

Wellington Management Group LLP reduced its position in BankUnited, Inc. (NYSE:BKU) by 19.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 702,043 shares of the financial services provider’s stock after selling 172,444 shares during the quarter. Wellington Management Group LLP’s holdings in BankUnited were worth $34,014,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in BankUnited in the second quarter worth approximately $518,492,000. Dimensional Fund Advisors LP raised its stake in shares of BankUnited by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,658,844 shares of the financial services provider’s stock worth $210,390,000 after acquiring an additional 26,292 shares in the last quarter. State Street Corp raised its stake in shares of BankUnited by 3.5% during the fourth quarter. State Street Corp now owns 4,437,792 shares of the financial services provider’s stock worth $197,792,000 after acquiring an additional 149,450 shares in the last quarter. HoldCo Asset Management LP lifted its holdings in shares of BankUnited by 277.3% in the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider’s stock worth $157,568,000 after acquiring an additional 2,598,382 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of BankUnited by 73.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,542,020 shares of the financial services provider’s stock valued at $68,728,000 after purchasing an additional 652,926 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BankUnited news, Director Douglas Pauls sold 3,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the transaction, the director directly owned 42,472 shares in the company, valued at approximately $2,034,408.80. This represents a 6.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay Richards sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares of the company’s stock, valued at approximately $1,971,232.34. This represents a 8.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

BankUnited Trading Up 1.1%

NYSE BKU opened at $46.42 on Friday. BankUnited, Inc. has a fifty-two week low of $35.10 and a fifty-two week high of $52.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day simple moving average of $47.25 and a two-hundred day simple moving average of $46.82. The stock has a market cap of $3.31 billion, a P/E ratio of 12.72 and a beta of 1.17.

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

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a $0.33 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.32 annualized dividend and a yield of 2.8%. BankUnited’s payout ratio is 36.16%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BKU. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BankUnited in a report on Wednesday, August 26th. Zacks Research downgraded shares of BankUnited from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Hovde Group cut their price target on shares of BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Wells Fargo & Company assumed coverage on BankUnited in a research note on Monday, August 10th. They set an “overweight” rating and a $54.00 price objective on the stock. Finally, Royal Bank Of Canada lowered their target price on BankUnited from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, BankUnited presently has a consensus rating of “Hold” and a consensus price target of $51.64.

BankUnited Company 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.