The Manufacturers Life Insurance Company Raises Position in BankUnited, Inc. (NYSE:BKU)

The Manufacturers Life Insurance Company boosted its holdings in BankUnited, Inc. (NYSE:BKU) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,438 shares of the financial services provider’s stock after buying an additional 2,778 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of BankUnited worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of BKU. Goldman Sachs Group Inc. grew its stake in BankUnited by 17.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 935,237 shares of the financial services provider’s stock valued at $30,330,000 after buying an additional 136,291 shares in the last quarter. Vanguard Group Inc. boosted its holdings in BankUnited by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 9,202,637 shares of the financial services provider’s stock valued at $298,442,000 after purchasing an additional 332,567 shares during the period. Hennessy Advisors Inc. boosted its holdings in BankUnited by 4.3% in the 1st quarter. Hennessy Advisors Inc. now owns 120,000 shares of the financial services provider’s stock valued at $3,360,000 after purchasing an additional 5,000 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in BankUnited by 21.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 11,165 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 1,985 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in BankUnited in the 1st quarter valued at $489,000. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BankUnited news, Director Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the transaction, the director now owns 43,654 shares in the company, valued at approximately $1,593,371. The trade was a 0.00 % decrease in their ownership of the stock. 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 Douglas J. Pauls sold 3,500 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the transaction, the director now owns 43,654 shares in the company, valued at approximately $1,593,371. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William S. Rubenstein sold 7,864 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $38.57, for a total transaction of $303,314.48. Following the completion of the transaction, the director now owns 10,282 shares in the company, valued at $396,576.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,507 shares of company stock worth $802,400 in the last 90 days. 1.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on BKU. Hovde Group raised their price target on shares of BankUnited from $33.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Citigroup cut their price target on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada raised their price target on shares of BankUnited from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of BankUnited from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.80.

BankUnited Price Performance

Shares of NYSE:BKU opened at $36.58 on Friday. The stock has a market cap of $2.73 billion, a PE ratio of 15.77 and a beta of 1.33. The company’s fifty day moving average is $36.18 and its 200 day moving average is $31.83. BankUnited, Inc. has a 52 week low of $21.02 and a 52 week high of $39.51. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22.

BankUnited (NYSE:BKU) last issued its earnings results on Thursday, July 18th. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The company had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.65 million. BankUnited had a net margin of 8.41% and a return on equity of 7.76%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. Research analysts anticipate that BankUnited, Inc. will post 2.86 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. Investors of record on Friday, October 11th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, October 11th. BankUnited’s payout ratio is presently 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.