35,974 Shares in BankUnited, Inc. $BKU Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of BankUnited, Inc. (NYSE:BKU) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 35,974 shares of the financial services provider’s stock, valued at approximately $1,743,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BKU. Royal Bank of Canada grew its holdings in shares of BankUnited by 15.3% during the 1st quarter. Royal Bank of Canada now owns 18,092 shares of the financial services provider’s stock worth $623,000 after purchasing an additional 2,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in BankUnited by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,380 shares of the financial services provider’s stock valued at $1,528,000 after buying an additional 1,934 shares during the period. Jane Street Group LLC purchased a new stake in BankUnited in the 1st quarter valued at about $9,100,000. Strs Ohio purchased a new stake in BankUnited in the 1st quarter valued at about $28,000. Finally, Invesco Ltd. lifted its position in BankUnited by 1.2% in the second quarter. Invesco Ltd. now owns 570,879 shares of the financial services provider’s stock valued at $20,318,000 after buying an additional 6,815 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Insider Activity at BankUnited

In related news, Director Douglas Pauls sold 3,000 shares of BankUnited stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $47.90, for a total value of $143,700.00. Following the completion of the transaction, the director owned 42,472 shares in the company, valued at approximately $2,034,408.80. The trade was a 6.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay 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 transaction, the insider owned 40,502 shares of the company’s stock, valued at $1,971,232.34. This trade represents a 8.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

BankUnited Price Performance

BKU opened at $45.91 on Friday. The stock’s 50-day moving average price is $47.30 and its 200 day moving average price is $46.83. BankUnited, Inc. has a 12-month low of $35.10 and a 12-month high of $52.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 12.58 and a beta of 1.17.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The firm had revenue of $284.57 million for the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that BankUnited, Inc. will post 4.01 earnings per share for the current year.

BankUnited Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited’s dividend payout ratio is currently 36.16%.

Wall Street Analysts Forecast Growth

BKU has been the subject of several research analyst reports. Hovde Group lowered their target price on shares of BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday, July 27th. Citigroup reduced their price target on shares of BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Wall Street Zen upgraded shares of BankUnited from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods lowered their price objective on shares of BankUnited from $51.00 to $49.00 and set a “market perform” rating for the company in a research report on Monday, August 3rd. Finally, Wells Fargo & Company began coverage on shares of BankUnited in a report on Monday, August 10th. They issued an “overweight” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.64.

About BankUnited

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.