Mackenzie Financial Corp Has $610,000 Position in BankUnited, Inc. (NYSE:BKU)

Mackenzie Financial Corp boosted its stake in shares of BankUnited, Inc. (NYSE:BKU) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,725 shares of the financial services provider’s stock after acquiring an additional 1,865 shares during the period. Mackenzie Financial Corp’s holdings in BankUnited were worth $610,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in BankUnited by 165.5% during the first quarter. Versant Capital Management Inc now owns 1,885 shares of the financial services provider’s stock worth $65,000 after buying an additional 1,175 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BankUnited during the 4th quarter worth approximately $73,000. Marshall Wace LLP acquired a new stake in shares of BankUnited during the 4th quarter worth approximately $216,000. GTS Securities LLC bought a new position in BankUnited in the fourth quarter valued at approximately $261,000. Finally, James Investment Research Inc. acquired a new position in BankUnited during the first quarter valued at approximately $245,000. 99.70% of the stock is owned by institutional investors and hedge funds.

BankUnited Trading Down 0.5%

Shares of NYSE BKU opened at $35.64 on Thursday. The firm has a 50 day moving average price of $36.03 and a two-hundred day moving average price of $35.67. The stock has a market cap of $2.68 billion, a P/E ratio of 10.45 and a beta of 1.32. BankUnited, Inc. has a 52-week low of $28.21 and a 52-week high of $44.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. The business had revenue of $273.93 million during the quarter, compared to analyst estimates of $267.17 million. BankUnited had a return on equity of 9.00% and a net margin of 13.19%. During the same period last year, the company earned $0.72 EPS. As a group, equities analysts forecast that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, July 11th. BankUnited’s payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen raised BankUnited from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Wells Fargo & Company upped their price objective on BankUnited from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Barclays lifted their target price on BankUnited from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group lowered their target price on BankUnited from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of BankUnited in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, BankUnited currently has an average rating of “Hold” and a consensus target price of $41.55.

Insider Buying and Selling

In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $34.43, for a total transaction of $34,430.00. Following the completion of the sale, the director owned 14,516 shares of the company’s stock, valued at approximately $499,785.88. This represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the completion of the transaction, the director owned 43,205 shares in the company, valued at $1,675,921.95. This trade represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,442 shares of company stock valued at $323,184 over the last ninety days. 1.15% of the stock is owned by company insiders.

BankUnited 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.