BankUnited, Inc. $BKU Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in shares of BankUnited, Inc. (NYSE:BKU) by 33.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,620 shares of the financial services provider’s stock after acquiring an additional 5,638 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in BankUnited were worth $860,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BKU. Strs Ohio bought a new position in shares of BankUnited in the 1st quarter worth about $28,000. Brooklyn Investment Group lifted its position in shares of BankUnited by 14,050.0% in the 1st quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock worth $29,000 after buying an additional 843 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of BankUnited by 165.5% in the 1st 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 during the last quarter. Headlands Technologies LLC lifted its position in shares of BankUnited by 697.4% in the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,155 shares during the last quarter. Finally, Quarry LP lifted its position in BankUnited by 9,157.5% in the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 3,663 shares during the last quarter. 99.70% of the stock is currently owned by institutional investors.

Insider Activity

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the transaction, the insider directly owned 39,193 shares in the company, valued at $1,521,080.33. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Douglas J. Pauls sold 3,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.

Analyst Upgrades and Downgrades

BKU has been the topic of several recent research reports. Citigroup lifted their price objective on shares of BankUnited from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Piper Sandler reiterated a “neutral” rating and issued a $43.00 price objective (up from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on shares of BankUnited from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Barclays raised their target price on shares of BankUnited from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.91.

BankUnited Stock Performance

Shares of BKU opened at $37.94 on Friday. The firm’s 50 day moving average is $37.94 and its 200-day moving average is $35.65. The stock has a market capitalization of $2.85 billion, a P/E ratio of 11.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $44.45.

BankUnited (NYSE:BKU) last announced its quarterly earnings data 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 company had revenue of $273.93 million for the quarter, compared to analysts’ expectations of $267.17 million. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. During the same quarter in the previous year, the company posted $0.72 EPS. Equities research analysts anticipate that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. BankUnited’s payout ratio is currently 36.36%.

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.