Suntrust Banks Inc. increased its stake in BankUnited (NYSE:BKU) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,443 shares of the financial services provider’s stock after purchasing an additional 2,898 shares during the period. Suntrust Banks Inc. owned 0.06% of BankUnited worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in BKU. Timber Hill LLC acquired a new stake in BankUnited in the 1st quarter worth approximately $203,000. Bristol John W & Co. Inc. NY acquired a new stake in BankUnited in the 1st quarter worth approximately $235,000. Algert Global LLC acquired a new stake in BankUnited in the 1st quarter worth approximately $297,000. Element Capital Management LLC acquired a new stake in BankUnited in the 1st quarter worth approximately $403,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in BankUnited in the 4th quarter worth approximately $413,000. Institutional investors own 94.35% of the company’s stock.
Shares of BankUnited opened at $40.85 on Monday, according to Marketbeat Ratings. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.45. BankUnited has a 12 month low of $30.37 and a 12 month high of $44.97. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11.
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, beating the consensus estimate of $0.72 by $0.05. BankUnited had a net margin of 45.31% and a return on equity of 11.16%. The firm had revenue of $275.80 million during the quarter, compared to analysts’ expectations of $271.96 million. During the same period in the previous year, the business posted $0.57 EPS. equities research analysts forecast that BankUnited will post 3.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Monday, July 16th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, July 13th. BankUnited’s dividend payout ratio is currently 31.70%.
In related news, insider Rajinder P. Singh sold 74,927 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $43.26, for a total value of $3,241,342.02. Following the completion of the transaction, the insider now directly owns 305,221 shares in the company, valued at approximately $13,203,860.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Bagnoli sold 1,000 shares of the business’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $40.63, for a total transaction of $40,630.00. Following the completion of the transaction, the insider now owns 25,118 shares of the company’s stock, valued at $1,020,544.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,378 shares of company stock valued at $8,411,444. Company insiders own 2.30% of the company’s stock.
BKU has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of BankUnited in a research note on Wednesday, March 21st. They issued a “neutral” rating and a $45.00 target price for the company. Zacks Investment Research upgraded shares of BankUnited from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, March 28th. ValuEngine cut shares of BankUnited from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Sandler O’Neill upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $43.64.
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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