Versor Investments LP Takes Position in BankUnited, Inc. (NYSE:BKU)

Versor Investments LP purchased a new position in BankUnited, Inc. (NYSE:BKU) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 8,300 shares of the financial services provider’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in BankUnited by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,483,630 shares of the financial services provider’s stock worth $265,542,000 after purchasing an additional 280,993 shares during the period. Dimensional Fund Advisors LP grew its stake in BankUnited by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,583,059 shares of the financial services provider’s stock worth $134,144,000 after purchasing an additional 315,872 shares during the period. Millennium Management LLC grew its stake in BankUnited by 49.2% in the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares during the period. Assenagon Asset Management S.A. grew its stake in BankUnited by 37.3% in the third quarter. Assenagon Asset Management S.A. now owns 868,806 shares of the financial services provider’s stock worth $31,659,000 after purchasing an additional 236,174 shares during the period. Finally, Bank of Montreal Can grew its stake in BankUnited by 3,901.0% in the second quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after purchasing an additional 559,720 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BKU. Wedbush upped their price target on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $37.00 target price on shares of BankUnited in a report on Wednesday, October 23rd. Hovde Group boosted their target price on BankUnited from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $38.00 to $48.00 in a report on Wednesday. Finally, Barclays boosted their target price on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.40.

BankUnited Trading Up 0.1 %

Shares of NYSE:BKU opened at $40.71 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of 16.68 and a beta of 1.33. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. BankUnited, Inc. has a 1 year low of $24.34 and a 1 year high of $41.65. The stock’s fifty day moving average price is $36.51 and its 200-day moving average price is $33.60.

BankUnited (NYSE:BKU) last announced its quarterly 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 firm had revenue of $515.24 million for the quarter, compared to the consensus estimate of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same period in the prior year, the company posted $0.63 earnings per share. Sell-side analysts expect that BankUnited, Inc. will post 2.85 earnings per share for the current year.

BankUnited Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 11th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Friday, October 11th. BankUnited’s dividend payout ratio (DPR) is presently 47.54%.

Insider Activity at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $39.11, for a total transaction of $421,527.58. Following the completion of the sale, the chief operating officer now owns 100,000 shares in the company, valued at approximately $3,911,000. This represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is owned by company insiders.

BankUnited Company Profile

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.