Algert Global LLC Raises Holdings in BankUnited, Inc. (NYSE:BKU)

Algert Global LLC grew its position in shares of BankUnited, Inc. (NYSE:BKU) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,183 shares of the financial services provider’s stock after buying an additional 16,751 shares during the period. Algert Global LLC owned 0.33% of BankUnited worth $7,294,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of BankUnited by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,438 shares of the financial services provider’s stock valued at $1,213,000 after buying an additional 2,778 shares during the last quarter. Millennium Management LLC lifted its position in shares of BankUnited by 49.2% during the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock valued at $65,778,000 after buying an additional 740,896 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of BankUnited during the 2nd quarter valued at $210,000. AQR Capital Management LLC raised its stake in shares of BankUnited by 19.6% during the 2nd quarter. AQR Capital Management LLC now owns 169,471 shares of the financial services provider’s stock valued at $4,960,000 after purchasing an additional 27,721 shares during the period. Finally, Caxton Associates LP raised its stake in shares of BankUnited by 16.7% during the 2nd quarter. Caxton Associates LP now owns 70,684 shares of the financial services provider’s stock valued at $2,069,000 after purchasing an additional 10,114 shares during the period. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BKU shares. Citigroup decreased their price objective on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on BankUnited from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Barclays boosted their price objective on BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Hovde Group boosted their price objective on BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

Insider Activity

In other news, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.50, for a total transaction of $127,750.00. Following the transaction, the director now directly owns 43,654 shares in the company, valued at approximately $1,593,371. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jay D. Richards sold 10,143 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the transaction, the insider now directly owns 37,187 shares in the company, valued at approximately $1,361,416.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the sale, the director now owns 43,654 shares of the company’s stock, valued at $1,593,371. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,507 shares of company stock worth $802,400. 1.19% of the stock is currently owned by insiders.

BankUnited Price Performance

Shares of NYSE BKU opened at $35.56 on Friday. The firm has a market capitalization of $2.66 billion, a P/E ratio of 15.33 and a beta of 1.33. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The stock’s 50-day simple moving average is $36.62 and its two-hundred day simple moving average is $31.23. BankUnited, Inc. has a twelve month low of $20.84 and a twelve month high of $39.51.

BankUnited (NYSE:BKU) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts anticipate that BankUnited, Inc. will post 2.88 EPS for the current fiscal year.

BankUnited Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.26%. BankUnited’s dividend payout ratio (DPR) is presently 50.00%.

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.