Royce & Associates LP Increases Holdings in BankUnited, Inc. (NYSE:BKU)


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Royce & Associates LP grew its stake in shares of BankUnited, Inc. (NYSE:BKU) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 673,871 shares of the financial services provider’s stock after acquiring an additional 84,304 shares during the quarter. Royce & Associates LP owned about 0.73% of BankUnited worth $23,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in BankUnited by 8.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,772 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 434 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of BankUnited by 1.4% during the fourth quarter. New York State Teachers Retirement System now owns 43,588 shares of the financial services provider’s stock valued at $1,516,000 after buying an additional 600 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of BankUnited by 62.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 1,150 shares in the last quarter. IndexIQ Advisors LLC raised its holdings in BankUnited by 11.5% in the 4th quarter. IndexIQ Advisors LLC now owns 11,200 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BankUnited by 14.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,552 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 1,320 shares during the last quarter. 97.34% of the stock is owned by hedge funds and other institutional investors.

Shares of BKU opened at $41.40 on Tuesday. BankUnited, Inc. has a 52-week low of $13.47 and a 52-week high of $41.78. The stock has a market cap of $3.83 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 4.98 and a beta of 1.40. The firm’s fifty day moving average is $38.03 and its two-hundred day moving average is $29.41. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.44.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, January 20th. The financial services provider reported $0.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.18. BankUnited had a net margin of 15.98% and a return on equity of 7.25%. The firm had revenue of $228.65 million for the quarter, compared to the consensus estimate of $226.10 million. As a group, research analysts anticipate that BankUnited, Inc. will post 1.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 29th. Shareholders of record on Thursday, January 14th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, January 13th. BankUnited’s dividend payout ratio (DPR) is 29.39%.

Several research firms recently commented on BKU. JPMorgan Chase & Co. upgraded BankUnited from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $27.00 to $41.00 in a report on Tuesday, December 15th. Royal Bank of Canada raised their target price on shares of BankUnited from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, January 25th. Morgan Stanley upped their price target on BankUnited from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 27th. UBS Group cut BankUnited from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $37.00 in a report on Friday, January 8th. Finally, DA Davidson cut shares of BankUnited from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Friday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.25.

In other news, CEO Rajinder P. Singh sold 14,446 shares of the company’s stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $29.87, for a total value of $431,502.02. Following the completion of the sale, the chief executive officer now directly owns 412,701 shares in the company, valued at $12,327,378.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

About BankUnited

BankUnited, Inc operates as the bank holding company for BankUnited, a national banking association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts; certificates of deposit; and treasury and cash management services.

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Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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