Millennium Management LLC Increases Position in BankUnited, Inc. (NYSE:BKU)

Millennium Management LLC lifted its position in BankUnited, Inc. (NYSE:BKU) by 49.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,247,271 shares of the financial services provider’s stock after buying an additional 740,896 shares during the period. Millennium Management LLC’s holdings in BankUnited were worth $65,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in shares of BankUnited in the second quarter worth approximately $210,000. AQR Capital Management LLC lifted its stake in shares of BankUnited by 19.6% in the second quarter. AQR Capital Management LLC now owns 169,471 shares of the financial services provider’s stock worth $4,960,000 after buying an additional 27,721 shares in the last quarter. Caxton Associates LP lifted its stake in shares of BankUnited by 16.7% in the second quarter. Caxton Associates LP now owns 70,684 shares of the financial services provider’s stock worth $2,069,000 after buying an additional 10,114 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of BankUnited in the second quarter worth approximately $169,000. Finally, Bank of Montreal Can lifted its stake in shares of BankUnited by 3,901.0% in the second quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock worth $16,803,000 after buying an additional 559,720 shares in the last quarter. Institutional investors own 99.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BKU shares. Wedbush upped their target price on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Barclays increased their price objective on shares of BankUnited from $35.00 to $39.00 and gave the company an “equal weight” rating in a research report on Friday. Hovde Group increased 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. JPMorgan Chase & Co. increased their price objective on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price objective on shares of BankUnited from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BankUnited currently has a consensus rating of “Hold” and an average target price of $35.50.

Insider Buying and Selling at BankUnited

In other news, insider Jay D. Richards sold 10,143 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total value of $303,314.48. Following the completion of the sale, the director now directly owns 10,282 shares of the company’s stock, valued at $396,576.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jay D. Richards sold 10,143 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares of the company’s stock, valued at $1,361,416.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,507 shares of company stock valued at $802,400. Insiders own 1.19% of the company’s stock.

BankUnited Stock Down 0.4 %

Shares of BKU stock opened at $35.56 on Monday. BankUnited, Inc. has a 12 month low of $20.84 and a 12 month high of $39.51. The stock has a market cap of $2.66 billion, a P/E ratio of 15.33 and a beta of 1.33. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.22. The company has a 50 day simple moving average of $36.62 and a two-hundred day simple moving average of $31.26.

BankUnited (NYSE:BKU) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.65 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, research analysts expect that BankUnited, Inc. will post 2.88 earnings per share for the current year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.26%. BankUnited’s dividend payout ratio is currently 50.00%.

BankUnited Profile

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.