California Public Employees Retirement System Buys 3,700 Shares of BankUnited, Inc. (BKU)

California Public Employees Retirement System grew its stake in shares of BankUnited, Inc. (NYSE:BKU) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,200 shares of the financial services provider’s stock after buying an additional 3,700 shares during the quarter. California Public Employees Retirement System owned 0.23% of BankUnited worth $8,367,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado grew its stake in shares of BankUnited by 4.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock valued at $110,000 after buying an additional 128 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of BankUnited by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock valued at $124,000 after buying an additional 276 shares during the last quarter. LaSalle Street Capital Management LLC bought a new position in shares of BankUnited during the second quarter valued at about $221,000. Karp Capital Management Corp bought a new position in shares of BankUnited during the first quarter valued at about $222,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of BankUnited by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 6,710 shares of the financial services provider’s stock valued at $226,000 after buying an additional 738 shares during the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Jeffrey Starr sold 7,445 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $35.08, for a total value of $261,170.60. Following the sale, the insider now directly owns 29,000 shares of the company’s stock, valued at approximately $1,017,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John Adam Kanas sold 200,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.35, for a total transaction of $6,670,000.00. Following the completion of the sale, the chairman now directly owns 742,866 shares in the company, valued at $24,774,581.10. The disclosure for this sale can be found here. Insiders sold a total of 386,035 shares of company stock worth $12,843,735 over the last three months. 5.10% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on BKU. BidaskClub raised BankUnited from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $41.00 price objective on shares of BankUnited in a research note on Thursday, September 28th. ValuEngine raised BankUnited from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 price objective (up from $38.00) on shares of BankUnited in a research note on Wednesday, July 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $35.00 price objective on shares of BankUnited in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.82.

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BankUnited, Inc. (BKU) opened at 34.99 on Wednesday. BankUnited, Inc. has a 52 week low of $28.13 and a 52 week high of $41.00. The company has a market capitalization of $3.74 billion, a PE ratio of 15.66 and a beta of 1.10. The stock’s 50 day moving average price is $33.74 and its 200-day moving average price is $34.22.

BankUnited (NYSE:BKU) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $269.48 million for the quarter, compared to analysts’ expectations of $258.47 million. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. During the same period in the prior year, the company earned $0.52 EPS. On average, equities research analysts predict that BankUnited, Inc. will post $2.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Friday, October 13th. BankUnited’s dividend payout ratio (DPR) is currently 37.67%.

BankUnited Profile

BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.

Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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