First Trust Advisors LP lifted its stake in BankUnited (NYSE:BKU) by 89.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 359,929 shares of the financial services provider’s stock after acquiring an additional 169,979 shares during the period. First Trust Advisors LP owned 0.39% of BankUnited worth $7,289,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of BankUnited by 2.2% in the 1st quarter. BlackRock Inc. now owns 5,048,642 shares of the financial services provider’s stock worth $94,408,000 after acquiring an additional 108,192 shares in the last quarter. Alliancebernstein L.P. grew its stake in BankUnited by 3.5% during the 1st quarter. Alliancebernstein L.P. now owns 4,498,871 shares of the financial services provider’s stock worth $84,129,000 after buying an additional 151,263 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in BankUnited by 21.8% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,193,236 shares of the financial services provider’s stock worth $78,414,000 after buying an additional 751,318 shares during the last quarter. JPMorgan Chase & Co. grew its stake in BankUnited by 27.2% during the 1st quarter. JPMorgan Chase & Co. now owns 3,434,201 shares of the financial services provider’s stock worth $64,218,000 after buying an additional 734,991 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in BankUnited by 48.1% during the 1st quarter. Wellington Management Group LLP now owns 3,331,675 shares of the financial services provider’s stock worth $62,302,000 after buying an additional 1,081,509 shares during the last quarter. 96.38% of the stock is owned by hedge funds and other institutional investors.
Shares of BKU opened at $20.14 on Friday. BankUnited has a 52 week low of $13.47 and a 52 week high of $37.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 7.78 and a beta of 1.31. The stock’s 50-day moving average price is $19.10 and its 200-day moving average price is $23.00.
BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 29th. The financial services provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.59. BankUnited had a return on equity of 7.54% and a net margin of 15.86%. The firm had revenue of $228.69 million for the quarter, compared to the consensus estimate of $217.68 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, equities analysts anticipate that BankUnited will post 0.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a $0.23 dividend. The ex-dividend date was Tuesday, July 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.57%. BankUnited’s payout ratio is 29.39%.
Several research analysts recently weighed in on the company. Compass Point dropped their target price on BankUnited from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Co dropped their target price on BankUnited from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. ValuEngine upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Thursday, July 2nd. UBS Group upgraded BankUnited from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.00 to $22.00 in a research note on Monday, June 29th. Finally, Bank of America upgraded BankUnited from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $30.00 in a research note on Monday, June 8th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.83.
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, savings accounts, and certificates of deposit; and treasury management services.
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