Fisher Asset Management LLC Acquires 113,974 Shares of BankUnited, Inc. $BKU

Fisher Asset Management LLC raised its holdings in BankUnited, Inc. (NYSE:BKU) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 575,878 shares of the financial services provider’s stock after acquiring an additional 113,974 shares during the quarter. Fisher Asset Management LLC owned approximately 0.77% of BankUnited worth $20,495,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in BankUnited by 893.2% in the first quarter. Wellington Management Group LLP now owns 1,150,879 shares of the financial services provider’s stock valued at $39,636,000 after purchasing an additional 1,035,002 shares during the period. Boston Partners bought a new stake in shares of BankUnited in the 1st quarter valued at about $26,299,000. Kodai Capital Management LP acquired a new stake in shares of BankUnited in the first quarter valued at about $16,986,000. Nuveen LLC acquired a new stake in shares of BankUnited in the first quarter valued at about $16,338,000. Finally, Cramer Rosenthal Mcglynn LLC raised its position in shares of BankUnited by 64.9% during the first quarter. Cramer Rosenthal Mcglynn LLC now owns 806,468 shares of the financial services provider’s stock worth $27,775,000 after acquiring an additional 317,532 shares during the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

BankUnited Price Performance

BKU stock opened at $44.51 on Thursday. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $45.11. The stock has a market capitalization of $3.34 billion, a PE ratio of 12.54 and a beta of 1.34. The company’s 50-day moving average is $39.71 and its 200-day moving average is $37.79. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.83 and a quick ratio of 0.83.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.11. BankUnited had a return on equity of 9.18% and a net margin of 13.98%.The business had revenue of $275.68 million for the quarter, compared to the consensus estimate of $280.33 million. During the same period in the prior year, the business earned $0.81 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities research analysts expect that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, October 10th. BankUnited’s dividend payout ratio (DPR) is currently 34.93%.

Analysts Set New Price Targets

BKU has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $44.00 target price on shares of BankUnited in a research report on Thursday, October 23rd. Wells Fargo & Company lowered their target price on shares of BankUnited from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Jefferies Financial Group raised shares of BankUnited from a “hold” rating to a “buy” rating and upped their price target for the company from $42.00 to $55.00 in a research report on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $42.00 price target on shares of BankUnited in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of BankUnited in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.27.

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.