Wellington Management Group LLP Reduces Stock Holdings in BankUnited, Inc. $BKU

Wellington Management Group LLP reduced its position in BankUnited, Inc. (NYSE:BKU) by 19.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 702,043 shares of the financial services provider’s stock after selling 172,444 shares during the quarter. Wellington Management Group LLP owned approximately 0.99% of BankUnited worth $34,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of BankUnited during the 2nd quarter valued at $518,492,000. HoldCo Asset Management LP increased its holdings in BankUnited by 277.3% in the 4th quarter. HoldCo Asset Management LP now owns 3,535,282 shares of the financial services provider’s stock worth $157,568,000 after acquiring an additional 2,598,382 shares during the last quarter. Millennium Management LLC raised its stake in BankUnited by 1,066.9% in the 4th quarter. Millennium Management LLC now owns 1,399,655 shares of the financial services provider’s stock valued at $62,383,000 after acquiring an additional 1,279,712 shares during the period. Bank of New York Mellon Corp purchased a new stake in BankUnited during the second quarter valued at about $46,177,000. Finally, Bank of America Corp DE purchased a new stake in BankUnited during the second quarter valued at about $34,831,000. 99.70% of the stock is currently owned by institutional investors.

Insider Activity at BankUnited

In other BankUnited news, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares in the company, valued at $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Pauls sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total transaction of $143,700.00. Following the completion of the transaction, the director directly owned 42,472 shares of the company’s stock, valued at approximately $2,034,408.80. This represents a 6.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BKU. Citigroup cut their target price on shares of BankUnited from $45.00 to $42.00 and set a “sell” rating for the company in a research report on Friday, July 24th. Barclays dropped their price target on shares of BankUnited from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, August 3rd. Keefe, Bruyette & Woods cut their price objective on shares of BankUnited from $51.00 to $49.00 and set a “market perform” rating for the company in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of BankUnited in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada lowered their target price on shares of BankUnited from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.64.

BankUnited Trading Up 1.1%

Shares of BKU stock opened at $46.42 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82. BankUnited, Inc. has a 52-week low of $35.10 and a 52-week high of $52.11. The company has a market capitalization of $3.31 billion, a PE ratio of 12.72 and a beta of 1.17. The business’s fifty day moving average is $47.25 and its 200 day moving average is $46.82.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.03). The business had revenue of $284.57 million for the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.BankUnited’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, equities research analysts anticipate that BankUnited, Inc. will post 4.01 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. BankUnited’s payout ratio is presently 36.16%.

BankUnited Company Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.