Algert Global LLC Increases Stake in BankUnited, Inc. $BKU

Algert Global LLC raised its stake in BankUnited, Inc. (NYSE:BKU) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 391,239 shares of the financial services provider’s stock after acquiring an additional 18,581 shares during the quarter. Algert Global LLC owned approximately 0.52% of BankUnited worth $14,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of BankUnited by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,596,455 shares of the financial services provider’s stock worth $175,400,000 after acquiring an additional 51,926 shares during the period. Wellington Management Group LLP boosted its stake in shares of BankUnited by 23.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,070,822 shares of the financial services provider’s stock worth $117,183,000 after acquiring an additional 576,843 shares in the last quarter. American Century Companies Inc. grew its position in shares of BankUnited by 9.4% during the 3rd quarter. American Century Companies Inc. now owns 2,163,936 shares of the financial services provider’s stock valued at $82,576,000 after acquiring an additional 185,937 shares during the period. Geode Capital Management LLC grew its position in shares of BankUnited by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,776,183 shares of the financial services provider’s stock valued at $63,223,000 after acquiring an additional 13,555 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC increased its stake in shares of BankUnited by 20.9% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,535,274 shares of the financial services provider’s stock valued at $58,586,000 after purchasing an additional 265,439 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company’s stock.

Insider Activity

In other BankUnited news, Director Sanjiv Sobti sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $50.88, for a total value of $254,400.00. Following the transaction, the director directly owned 18,816 shares of the company’s stock, valued at $957,358.08. This trade represents a 20.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay D. Richards sold 3,506 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total value of $174,703.98. Following the transaction, the insider owned 35,687 shares in the company, valued at approximately $1,778,283.21. This represents a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,953 shares of company stock worth $591,492 over the last three months. Insiders own 1.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler upped their price target on BankUnited from $42.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Keefe, Bruyette & Woods raised their price objective on BankUnited from $42.00 to $55.00 and gave the company a “market perform” rating in a report on Thursday, January 22nd. Cantor Fitzgerald boosted their price objective on BankUnited from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Susquehanna raised BankUnited to a “positive” rating in a research note on Wednesday, January 21st. Finally, Hovde Group reiterated an “outperform” rating and set a $51.00 target price on shares of BankUnited in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BankUnited presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.55.

BankUnited Price Performance

Shares of BankUnited stock opened at $42.75 on Friday. The stock has a market capitalization of $3.15 billion, a P/E ratio of 12.08 and a beta of 1.29. The business has a 50 day simple moving average of $47.40 and a two-hundred day simple moving average of $43.11. BankUnited, Inc. has a 12 month low of $28.21 and a 12 month high of $52.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.82 and a quick ratio of 0.82.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.09. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.The firm had revenue of $260.80 million for the quarter, compared to analyst estimates of $279.76 million. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, analysts predict that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 9th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.9%. BankUnited’s dividend payout ratio is presently 35.03%.

About BankUnited

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.