Maltese Capital Management LLC boosted its stake in shares of BankUnited (NYSE:BKU) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,000 shares of the financial services provider’s stock after purchasing an additional 1,700 shares during the period. Maltese Capital Management LLC’s holdings in BankUnited were worth $6,312,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in BKU. GSA Capital Partners LLP purchased a new position in BankUnited during the second quarter valued at approximately $310,000. Northern Trust Corp grew its position in BankUnited by 1.5% during the second quarter. Northern Trust Corp now owns 481,813 shares of the financial services provider’s stock valued at $16,243,000 after purchasing an additional 7,337 shares in the last quarter. Vanguard Group Inc. grew its position in BankUnited by 3.6% during the second quarter. Vanguard Group Inc. now owns 8,768,948 shares of the financial services provider’s stock valued at $295,602,000 after purchasing an additional 300,744 shares in the last quarter. California Public Employees Retirement System grew its position in BankUnited by 1.5% during the second quarter. California Public Employees Retirement System now owns 248,200 shares of the financial services provider’s stock valued at $8,367,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Suntrust Banks Inc. grew its position in BankUnited by 8.2% during the second quarter. Suntrust Banks Inc. now owns 15,160 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 1,146 shares in the last quarter. 96.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BankUnited (NYSE:BKU) opened at $39.67 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $4,215.16, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01. BankUnited has a one year low of $30.37 and a one year high of $43.84.
BankUnited announced that its Board of Directors has authorized a share buyback program on Tuesday, January 23rd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Thursday, January 11th. BankUnited’s dividend payout ratio (DPR) is presently 15.05%.
In other BankUnited news, Director Douglas J. Pauls sold 40,000 shares of BankUnited stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the sale, the director now directly owns 31,380 shares in the company, valued at $1,321,725.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total transaction of $35,880.00. Following the completion of the sale, the insider now owns 19,699 shares of the company’s stock, valued at $706,800.12. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
A number of research analysts recently commented on BKU shares. Barclays boosted their price objective on shares of BankUnited from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $46.00 price objective on shares of BankUnited in a research report on Wednesday, December 13th. JPMorgan Chase & Co. downgraded shares of BankUnited from a “neutral” rating to an “underweight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, November 1st. Hovde Group downgraded shares of BankUnited from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $45.00 to $44.00 in a research report on Wednesday. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $50.00 price objective (up from $42.00) on shares of BankUnited in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $43.09.
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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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