Schwab Charles Investment Management Inc. boosted its stake in shares of BankUnited (NYSE:BKU) by 4.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 656,290 shares of the financial services provider’s stock after buying an additional 27,141 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.61% of BankUnited worth $26,725,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in BKU. JPMorgan Chase & Co. raised its holdings in BankUnited by 30.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,701,440 shares of the financial services provider’s stock valued at $167,747,000 after buying an additional 1,106,515 shares during the period. Brown Advisory Inc. purchased a new stake in BankUnited during the 3rd quarter valued at $24,703,000. NWQ Investment Management Company LLC purchased a new stake in BankUnited during the 3rd quarter valued at $18,498,000. Jennison Associates LLC raised its holdings in BankUnited by 16.7% during the 3rd quarter. Jennison Associates LLC now owns 2,411,374 shares of the financial services provider’s stock valued at $85,773,000 after buying an additional 345,760 shares during the period. Finally, Boston Partners raised its holdings in BankUnited by 30.6% during the 3rd quarter. Boston Partners now owns 930,881 shares of the financial services provider’s stock valued at $33,111,000 after buying an additional 218,286 shares during the period. Institutional investors own 96.43% of the company’s stock.
In other news, insider Mark Bagnoli sold 1,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $35.88, for a total transaction of $35,880.00. Following the transaction, the insider now owns 19,699 shares of the company’s stock, valued at approximately $706,800.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Pauls sold 40,000 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the transaction, the director now directly owns 31,380 shares in the company, valued at approximately $1,321,725.60. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
BankUnited (NYSE:BKU) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.24. BankUnited had a return on equity of 57.07% and a net margin of 146.41%. The business had revenue of $285.37 million for the quarter, compared to the consensus estimate of $270.33 million. During the same quarter in the prior year, the company earned $0.59 EPS. sell-side analysts expect that BankUnited will post 3.14 EPS for the current year.
BankUnited declared that its board has initiated a share repurchase program on Tuesday, January 23rd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, January 11th. BankUnited’s payout ratio is 15.05%.
A number of analysts have weighed in on the company. Hovde Group lowered BankUnited from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $45.00 to $44.00 in a research note on Wednesday, February 7th. Zacks Investment Research lowered BankUnited from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $41.00 target price on shares of BankUnited in a research note on Wednesday, January 24th. ValuEngine upgraded BankUnited from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays increased their target price on BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.09.
BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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