Amica Mutual Insurance Co. bought a new position in shares of BankUnited (NYSE:BKU) in the fourth quarter, HoldingsChannel.com reports. The firm bought 26,168 shares of the financial services provider’s stock, valued at approximately $1,066,000.
A number of other large investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its position in BankUnited by 30.8% during the third quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock worth $167,747,000 after purchasing an additional 1,106,515 shares during the period. BlackRock Inc. boosted its position in BankUnited by 1.4% during the fourth quarter. BlackRock Inc. now owns 4,640,190 shares of the financial services provider’s stock worth $188,949,000 after purchasing an additional 64,553 shares during the period. Jennison Associates LLC boosted its position in BankUnited by 20.6% during the fourth quarter. Jennison Associates LLC now owns 2,907,755 shares of the financial services provider’s stock worth $118,404,000 after purchasing an additional 496,381 shares during the period. Brown Advisory Inc. boosted its position in BankUnited by 282.3% during the fourth quarter. Brown Advisory Inc. now owns 2,655,021 shares of the financial services provider’s stock worth $108,112,000 after purchasing an additional 1,960,555 shares during the period. Finally, Citadel Advisors LLC boosted its position in BankUnited by 1,334.0% during the fourth quarter. Citadel Advisors LLC now owns 2,228,050 shares of the financial services provider’s stock worth $90,727,000 after purchasing an additional 2,072,682 shares during the period. Hedge funds and other institutional investors own 97.98% of the company’s stock.
A number of equities analysts have weighed in on BKU shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 target price on shares of BankUnited in a research report on Thursday, December 14th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Friday, January 12th. Barclays reiterated a “buy” rating and set a $42.00 target price on shares of BankUnited in a research report on Tuesday, December 5th. Finally, Deutsche Bank cut their target price on shares of BankUnited from $42.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.09.
BankUnited (NYSE:BKU) opened at $40.24 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96. BankUnited has a 1 year low of $30.37 and a 1 year high of $43.84. The company has a market cap of $4,370.09, a P/E ratio of 7.21, a PEG ratio of 1.47 and a beta of 1.01.
BankUnited (NYSE:BKU) last released its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.24. BankUnited had a net margin of 45.09% and a return on equity of 11.30%. The company had revenue of $285.37 million during the quarter, compared to analyst estimates of $270.33 million. During the same period last year, the business earned $0.59 earnings per share. analysts predict that BankUnited will post 3.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. BankUnited’s dividend payout ratio (DPR) is currently 15.05%.
BankUnited announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the transaction, the director now directly owns 31,380 shares in the company, valued at $1,321,725.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is currently owned by company insiders.
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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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