California Public Employees Retirement System increased its stake in BankUnited (NYSE:BKU) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,249 shares of the financial services provider’s stock after purchasing an additional 18,049 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of BankUnited worth $9,470,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Public Employees Retirement Association of Colorado grew its stake in BankUnited by 4.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 128 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in BankUnited by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 276 shares in the last quarter. Macquarie Group Ltd. purchased a new position in BankUnited during the 3rd quarter valued at about $174,000. Forward Management LLC acquired a new stake in shares of BankUnited during the 3rd quarter valued at about $192,000. Finally, QS Investors LLC lifted its holdings in shares of BankUnited by 9.6% during the 2nd quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock valued at $212,000 after buying an additional 550 shares during the last quarter. 95.26% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total transaction of $35,880.00. Following the sale, the insider now directly owns 19,699 shares in the company, valued at $706,800.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.10% of the company’s stock.
BKU has been the subject of several research reports. Deutsche Bank reduced their price target on BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a report on Wednesday, November 8th. Barclays lifted their price target on BankUnited from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. JMP Securities began coverage on BankUnited in a report on Tuesday, January 9th. They set an “outperform” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $46.00 target price on shares of BankUnited in a report on Wednesday, December 13th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $50.00 target price (up from $42.00) on shares of BankUnited in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.91.
BankUnited (NYSE:BKU) opened at $43.18 on Friday. BankUnited has a 1-year low of $30.37 and a 1-year high of $43.22. The company has a market capitalization of $4,610.00, a P/E ratio of 18.14, a PEG ratio of 1.57 and a beta of 1.09. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.86.
BankUnited (NYSE:BKU) last issued its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. BankUnited had a return on equity of 10.23% and a net margin of 19.82%. The company had revenue of $294.59 million during the quarter, compared to analyst estimates of $273.51 million. During the same period in the previous year, the company earned $0.47 earnings per share. equities research analysts anticipate that BankUnited will post 2.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, January 11th. BankUnited’s dividend payout ratio is presently 35.29%.
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BankUnited Company Profile
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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