Piermont Capital Management Inc. boosted its holdings in BankUnited (NYSE:BKU) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,132 shares of the financial services provider’s stock after purchasing an additional 1,670 shares during the period. BankUnited comprises about 1.0% of Piermont Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Piermont Capital Management Inc. owned 0.07% of BankUnited worth $3,044,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in BankUnited by 1.4% in the first quarter. BlackRock Inc. now owns 4,703,414 shares of the financial services provider’s stock valued at $188,042,000 after purchasing an additional 63,224 shares in the last quarter. Jennison Associates LLC grew its position in shares of BankUnited by 20.6% in the 4th quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock valued at $118,404,000 after acquiring an additional 496,381 shares during the period. Brown Advisory Inc. grew its position in shares of BankUnited by 282.3% in the 4th quarter. Brown Advisory Inc. now owns 2,655,021 shares of the financial services provider’s stock valued at $108,112,000 after acquiring an additional 1,960,555 shares during the period. Citadel Advisors LLC grew its position in shares of BankUnited by 1,334.0% in the 4th quarter. Citadel Advisors LLC now owns 2,228,050 shares of the financial services provider’s stock valued at $90,727,000 after acquiring an additional 2,072,682 shares during the period. Finally, Douglas Lane & Associates LLC grew its position in shares of BankUnited by 1.2% in the 4th quarter. Douglas Lane & Associates LLC now owns 1,884,024 shares of the financial services provider’s stock valued at $76,717,000 after acquiring an additional 21,442 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.
BankUnited opened at $41.69 on Monday, according to Marketbeat.com. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. The stock has a market cap of $4.42 billion, a PE ratio of 15.73, a P/E/G ratio of 1.43 and a beta of 1.04. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84.
BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, April 25th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.96 million. BankUnited had a net margin of 45.31% and a return on equity of 11.16%. During the same quarter last year, the company posted $0.57 EPS. equities research analysts expect that BankUnited will post 3.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Thursday, April 12th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, April 11th. BankUnited’s dividend payout ratio is presently 31.70%.
BankUnited announced that its board has initiated a share repurchase program on Tuesday, January 23rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
BKU has been the subject of a number of analyst reports. ValuEngine raised shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of BankUnited from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, March 28th. Sandler O’Neill raised shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $41.00 price objective on shares of BankUnited in a research report on Wednesday, January 24th. Finally, Hovde Group downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $45.00 to $44.00 in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $42.92.
In other news, insider Rajinder P. Singh sold 122,451 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $41.89, for a total transaction of $5,129,472.39. Following the completion of the sale, the insider now owns 327,672 shares in the company, valued at approximately $13,726,180.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $40.63, for a total transaction of $40,630.00. Following the sale, the insider now owns 25,118 shares of the company’s stock, valued at approximately $1,020,544.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,938 shares of company stock valued at $5,405,520. 2.30% of the stock is currently owned by corporate insiders.
BankUnited Company Profile
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, and savings accounts, as well as certificates of deposit; and treasury management services.
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