Jennison Associates LLC decreased its stake in shares of BankUnited, Inc. (NYSE:BKU - Free Report) by 48.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 730,844 shares of the financial services provider's stock after selling 695,791 shares during the period. Jennison Associates LLC owned 0.98% of BankUnited worth $26,632,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in BankUnited by 307.6% during the second quarter. CWM LLC now owns 1,928 shares of the financial services provider's stock worth $56,000 after acquiring an additional 1,455 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of BankUnited during the second quarter worth $74,000. GAMMA Investing LLC grew its position in shares of BankUnited by 17.4% in the third quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider's stock valued at $169,000 after purchasing an additional 686 shares during the period. SG Americas Securities LLC acquired a new position in BankUnited in the third quarter valued at $181,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in BankUnited during the second quarter worth about $169,000. 99.70% of the stock is owned by institutional investors and hedge funds.
In other news, COO Thomas M. Cornish sold 10,778 shares of BankUnited stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the transaction, the chief operating officer now directly owns 100,000 shares of the company's stock, valued at approximately $3,911,000. The trade was a 9.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total value of $102,950.00. Following the transaction, the insider now directly owns 34,687 shares of the company's stock, valued at $1,428,410.66. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.
Several analysts have commented on the company. Barclays lifted their price target on BankUnited from $35.00 to $39.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Citigroup dropped their price target on shares of BankUnited from $42.00 to $39.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $37.00 price target on shares of BankUnited in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded BankUnited from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $38.00 to $48.00 in a report on Wednesday, November 13th. Finally, Wedbush increased their target price on BankUnited from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $37.40.
Read Our Latest Analysis on BankUnited
Shares of NYSE BKU opened at $42.72 on Friday. The stock has a fifty day moving average price of $36.99 and a 200 day moving average price of $33.97. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. BankUnited, Inc. has a 12-month low of $24.34 and a 12-month high of $42.83. The company has a market cap of $3.19 billion, a P/E ratio of 17.51 and a beta of 1.33.
BankUnited (NYSE:BKU - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. The business had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter last year, the firm earned $0.63 earnings per share. Research analysts anticipate that BankUnited, Inc. will post 2.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were given a $0.29 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a yield of 2.72%. BankUnited's payout ratio is currently 47.54%.
BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury, commercial payment, and cash management services.
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