Northern Trust Corp increased its position in shares of BankUnited, Inc. (NYSE:BKU) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,813 shares of the financial services provider’s stock after acquiring an additional 7,337 shares during the quarter. Northern Trust Corp owned 0.45% of BankUnited worth $16,243,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of BankUnited by 48.8% during the second quarter. Citigroup Inc. now owns 89,318 shares of the financial services provider’s stock valued at $3,011,000 after acquiring an additional 29,294 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of BankUnited during the second quarter valued at approximately $310,000. Menta Capital LLC raised its holdings in shares of BankUnited by 802.2% during the second quarter. Menta Capital LLC now owns 93,265 shares of the financial services provider’s stock valued at $3,144,000 after acquiring an additional 82,928 shares during the period. Lazard Asset Management LLC raised its holdings in shares of BankUnited by 50.9% during the second quarter. Lazard Asset Management LLC now owns 894,325 shares of the financial services provider’s stock valued at $30,147,000 after acquiring an additional 301,860 shares during the period. Finally, Context BH Capital Management LP raised its holdings in shares of BankUnited by 45.2% during the second quarter. Context BH Capital Management LP now owns 187,473 shares of the financial services provider’s stock valued at $6,320,000 after acquiring an additional 58,399 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.
In other news, insider Jeffrey Starr sold 7,445 shares of BankUnited stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the sale, the insider now directly owns 29,000 shares in the company, valued at $1,017,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John Adam Kanas sold 78,190 shares of BankUnited stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $33.18, for a total transaction of $2,594,344.20. Following the completion of the sale, the chairman now owns 565,076 shares in the company, valued at $18,749,221.68. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.
A number of equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of BankUnited from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Barclays PLC restated an “overweight” rating and set a $41.00 price target (up previously from $38.00) on shares of BankUnited in a report on Wednesday, July 12th. BMO Capital Markets restated a “hold” rating and set a $40.00 price target on shares of BankUnited in a report on Friday, July 7th. ValuEngine upgraded shares of BankUnited from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of BankUnited from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. BankUnited has a consensus rating of “Buy” and a consensus price target of $40.82.
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BankUnited, Inc. (NYSE:BKU) opened at 35.76 on Monday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 16.00 and a beta of 1.10. The firm has a 50-day moving average of $34.37 and a 200 day moving average of $34.07. BankUnited, Inc. has a 1-year low of $28.38 and a 1-year high of $41.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.35%. BankUnited’s dividend payout ratio (DPR) is presently 37.67%.
BankUnited Company Profile
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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