Edgestream Partners L.P. Makes New Investment in BankUnited, Inc. $BKU

Edgestream Partners L.P. purchased a new position in BankUnited, Inc. (NYSE:BKU) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 150,507 shares of the financial services provider’s stock, valued at approximately $6,797,000. Edgestream Partners L.P. owned about 0.21% of BankUnited at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BKU. Amundi lifted its holdings in shares of BankUnited by 31.4% during the 1st quarter. Amundi now owns 15,300 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 3,660 shares during the last quarter. California State Teachers Retirement System increased its stake in BankUnited by 30.9% in the first quarter. California State Teachers Retirement System now owns 92,927 shares of the financial services provider’s stock valued at $4,197,000 after acquiring an additional 21,956 shares during the last quarter. Royal Bank of Canada raised its position in BankUnited by 89.8% during the first quarter. Royal Bank of Canada now owns 7,701 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 3,643 shares in the last quarter. Empowered Funds LLC raised its position in BankUnited by 6.3% during the first quarter. Empowered Funds LLC now owns 318,036 shares of the financial services provider’s stock valued at $14,363,000 after purchasing an additional 18,724 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in BankUnited by 24.5% during the first quarter. Quantinno Capital Management LP now owns 18,246 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 3,593 shares during the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Insider Buying and Selling at BankUnited

In related news, insider Jay D. Richards sold 4,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $48.67, for a total transaction of $194,680.00. Following the transaction, the insider owned 40,502 shares in the company, valued at $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John N. Digiacomo sold 1,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $45.97, for a total transaction of $45,970.00. Following the completion of the transaction, the director directly owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. The trade was a 6.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BKU has been the topic of a number of research reports. Zacks Research cut BankUnited from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Hovde Group cut their target price on BankUnited from $55.00 to $53.00 and set an “outperform” rating for the company in a research note on Monday. Keefe, Bruyette & Woods reduced their price target on shares of BankUnited from $55.00 to $50.00 and set a “market perform” rating on the stock in a research report on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating on shares of BankUnited in a research note on Wednesday, April 22nd. Finally, Citigroup decreased their price target on shares of BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, BankUnited currently has an average rating of “Hold” and an average target price of $52.00.

BankUnited Trading Up 0.1%

NYSE BKU opened at $46.10 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of 12.63 and a beta of 1.17. BankUnited, Inc. has a fifty-two week low of $34.79 and a fifty-two week high of $52.11. The stock has a 50 day simple moving average of $47.71 and a two-hundred day simple moving average of $47.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.82 and a current ratio of 0.82.

BankUnited (NYSE:BKU) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.03). The business had revenue of $284.57 million for the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. BankUnited’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.91 earnings per share. On average, analysts forecast that BankUnited, Inc. will post 4.09 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 10th. BankUnited’s payout ratio is presently 36.16%.

BankUnited Company Profile

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.