Russell Investments Group Ltd. grew its stake in BankUnited, Inc. (NYSE:BKU – Free Report) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,687 shares of the financial services provider’s stock after purchasing an additional 16,889 shares during the period. Russell Investments Group Ltd. owned approximately 0.16% of BankUnited worth $4,156,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BKU. Marshall Wace LLP acquired a new position in shares of BankUnited in the fourth quarter valued at approximately $216,000. MetLife Investment Management LLC increased its holdings in shares of BankUnited by 4.2% in the fourth quarter. MetLife Investment Management LLC now owns 44,796 shares of the financial services provider’s stock valued at $1,710,000 after purchasing an additional 1,791 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of BankUnited by 14.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,174 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 932 shares during the period. Hsbc Holdings PLC increased its holdings in shares of BankUnited by 34.5% in the fourth quarter. Hsbc Holdings PLC now owns 31,867 shares of the financial services provider’s stock valued at $1,220,000 after purchasing an additional 8,173 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in shares of BankUnited by 147.6% in the fourth quarter. Dark Forest Capital Management LP now owns 22,056 shares of the financial services provider’s stock valued at $842,000 after purchasing an additional 13,149 shares during the period. Institutional investors and hedge funds own 99.70% of the company’s stock.
BankUnited Stock Up 5.5%
BKU opened at $38.8870 on Friday. The business’s fifty day moving average is $36.71 and its two-hundred day moving average is $35.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 11.40 and a beta of 1.32. BankUnited, Inc. has a one year low of $28.21 and a one year high of $44.45.
BankUnited Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 11th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, July 11th. BankUnited’s payout ratio is presently 36.36%.
Insiders Place Their Bets
In other BankUnited news, Director John N. Digiacomo sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $34.43, for a total transaction of $34,430.00. Following the sale, the director directly owned 14,516 shares in the company, valued at approximately $499,785.88. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas J. Pauls sold 3,500 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.79, for a total value of $135,765.00. Following the completion of the sale, the director owned 43,205 shares in the company, valued at $1,675,921.95. This represents a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,442 shares of company stock worth $323,184. 1.15% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently issued reports on BKU. Wall Street Zen raised BankUnited from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Hovde Group upped their price objective on BankUnited from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Jefferies Financial Group began coverage on BankUnited in a report on Wednesday, May 21st. They set a “hold” rating and a $39.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on BankUnited from $38.00 to $42.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company upped their price objective on BankUnited from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.55.
Read Our Latest Stock Report on BankUnited
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.
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