Persistent Asset Partners Ltd Takes $520,000 Position in BankUnited, Inc. $BKU

Persistent Asset Partners Ltd bought a new stake in BankUnited, Inc. (NYSE:BKU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,633 shares of the financial services provider’s stock, valued at approximately $520,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Global Investments bought a new position in shares of BankUnited during the 3rd quarter worth about $698,000. Capital Fund Management S.A. bought a new position in BankUnited during the second quarter worth about $1,356,000. Fisher Asset Management LLC lifted its stake in BankUnited by 24.7% during the second quarter. Fisher Asset Management LLC now owns 575,878 shares of the financial services provider’s stock worth $20,495,000 after purchasing an additional 113,974 shares during the period. TrueMark Investments LLC acquired a new stake in BankUnited during the third quarter valued at approximately $6,334,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of BankUnited in the 3rd quarter valued at approximately $6,121,000. 99.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BKU. Royal Bank Of Canada raised their target price on BankUnited from $48.00 to $53.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. Susquehanna upgraded BankUnited to a “positive” rating in a research note on Wednesday, January 21st. Zacks Research raised BankUnited from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods upped their target price on shares of BankUnited from $42.00 to $55.00 and gave the stock a “market perform” rating in a report on Thursday, January 22nd. Finally, Piper Sandler increased their target price on shares of BankUnited from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.45.

BankUnited Stock Down 0.2%

NYSE BKU opened at $48.95 on Friday. The stock has a fifty day moving average of $47.01 and a 200-day moving average of $42.03. The stock has a market capitalization of $3.68 billion, a P/E ratio of 13.83 and a beta of 1.31. BankUnited, Inc. has a 52 week low of $28.21 and a 52 week high of $52.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.83 and a current 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, beating the consensus estimate of $0.85 by $0.09. The business had revenue of $288.20 million for the quarter, compared to analyst estimates of $279.76 million. BankUnited had a return on equity of 9.09% and a net margin of 14.14%.During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts forecast that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 9th were given a dividend of $0.31 per share. The ex-dividend date was Friday, January 9th. This represents a $1.24 annualized dividend and a dividend yield of 2.5%. BankUnited’s payout ratio is currently 35.03%.

Insider Activity at BankUnited

In related news, Director Sanjiv Sobti sold 5,000 shares of the business’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 transaction of $254,400.00. Following the completion of the sale, the director directly owned 18,816 shares of the company’s stock, valued at $957,358.08. The trade was a 20.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jay D. Richards sold 3,506 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $49.83, for a total transaction of $174,703.98. Following the completion of the transaction, the insider directly owned 35,687 shares in the company, valued at approximately $1,778,283.21. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by insiders.

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.