Dark Forest Capital Management LP Acquires New Shares in BankUnited, Inc. (NYSE:BKU)

Dark Forest Capital Management LP bought a new position in BankUnited, Inc. (NYSE:BKU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,158 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BKU. US Bancorp DE raised its holdings in shares of BankUnited by 3,330.0% during the fourth quarter. US Bancorp DE now owns 23,530 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 22,844 shares during the last quarter. Allianz Asset Management GmbH grew its position in BankUnited by 313.6% in the 4th quarter. Allianz Asset Management GmbH now owns 98,399 shares of the financial services provider’s stock worth $3,191,000 after purchasing an additional 74,609 shares during the period. Rafferty Asset Management LLC raised its stake in BankUnited by 41.8% during the 4th quarter. Rafferty Asset Management LLC now owns 179,146 shares of the financial services provider’s stock valued at $5,810,000 after buying an additional 52,788 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of BankUnited during the 4th quarter valued at $1,331,000. Finally, Neo Ivy Capital Management purchased a new position in shares of BankUnited in the 4th quarter worth $238,000. Institutional investors own 99.70% of the company’s stock.

BankUnited Trading Up 2.5 %

Shares of BankUnited stock opened at $36.44 on Tuesday. BankUnited, Inc. has a fifty-two week low of $20.84 and a fifty-two week high of $39.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.72 billion, a P/E ratio of 15.71 and a beta of 1.33. The company has a fifty day moving average of $36.60 and a 200 day moving average of $31.33.

BankUnited (NYSE:BKU) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.65 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that BankUnited, Inc. will post 2.88 earnings per share for the current fiscal year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 annualized dividend and a yield of 3.18%. BankUnited’s payout ratio is 50.00%.

Insider Buying and Selling at BankUnited

In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total transaction of $127,750.00. Following the completion of the transaction, the director now owns 43,654 shares of the company’s stock, valued at approximately $1,593,371. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BankUnited news, Director William S. Rubenstein sold 7,864 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total transaction of $303,314.48. Following the transaction, the director now owns 10,282 shares in the company, valued at $396,576.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of BankUnited stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $36.50, for a total transaction of $127,750.00. Following the transaction, the director now directly owns 43,654 shares of the company’s stock, valued at $1,593,371. The disclosure for this sale can be found here. Insiders sold a total of 21,507 shares of company stock valued at $802,400 in the last three months. 1.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BKU shares. Citigroup lowered their target price on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada raised their price objective on shares of BankUnited from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 9th. Barclays boosted their target price on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of BankUnited from $34.50 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Hovde Group boosted their price objective on shares of BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

About BankUnited

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.