State of Alaska Department of Revenue Raises Stock Position in BankUnited, Inc. $BKU

State of Alaska Department of Revenue boosted its holdings in BankUnited, Inc. (NYSE:BKU) by 8.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 44,806 shares of the financial services provider’s stock after buying an additional 3,389 shares during the period. State of Alaska Department of Revenue owned 0.06% of BankUnited worth $1,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BKU. Wealth Enhancement Advisory Services LLC grew its position in shares of BankUnited by 33.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,620 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 5,638 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of BankUnited during the second quarter valued at about $257,000. Strs Ohio purchased a new position in shares of BankUnited during the first quarter valued at about $28,000. Intech Investment Management LLC grew its position in shares of BankUnited by 17.7% during the first quarter. Intech Investment Management LLC now owns 85,566 shares of the financial services provider’s stock valued at $2,947,000 after purchasing an additional 12,873 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of BankUnited during the first quarter valued at about $9,100,000. Institutional investors own 99.70% of the company’s stock.

BankUnited Stock Up 0.5%

Shares of NYSE BKU opened at $38.27 on Friday. The firm has a 50-day simple moving average of $37.94 and a two-hundred day simple moving average of $35.67. 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 1 year low of $28.21 and a 1 year high of $44.45. The company has a market cap of $2.88 billion, a P/E ratio of 11.22 and a beta of 1.27.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.12. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. The firm had revenue of $273.93 million during the quarter, compared to the consensus estimate of $267.17 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Research analysts anticipate that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th. BankUnited’s payout ratio is currently 36.36%.

Insider Buying and Selling at BankUnited

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of BankUnited stock in a transaction on Friday, July 25th. The shares were sold at an average price of $38.81, for a total value of $152,989.02. Following the transaction, the insider directly owned 39,193 shares of the company’s stock, valued at approximately $1,521,080.33. The trade was a 9.14% 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 the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction 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 directly 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. 1.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of BankUnited in a research report on Saturday, September 27th. Barclays lifted their price target on BankUnited from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Cantor Fitzgerald started coverage on BankUnited in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $44.00 price target for the company. Finally, Hovde Group lifted their price target on BankUnited from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BankUnited has a consensus rating of “Hold” and an average target price of $41.91.

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.