Allianz Asset Management GmbH Increases Stock Holdings in BankUnited, Inc. $BKU

Allianz Asset Management GmbH boosted its stake in shares of BankUnited, Inc. (NYSE:BKU) by 73.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 363,803 shares of the financial services provider’s stock after buying an additional 154,460 shares during the period. Allianz Asset Management GmbH’s holdings in BankUnited were worth $12,948,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BKU. Strs Ohio purchased a new position in BankUnited during the first quarter worth $28,000. Brooklyn Investment Group lifted its holdings in shares of BankUnited by 14,050.0% in the 1st quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 843 shares during the last quarter. Bayforest Capital Ltd boosted its stake in shares of BankUnited by 32.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 271 shares during the period. Headlands Technologies LLC grew its holdings in BankUnited by 697.4% during the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,155 shares during the last quarter. Finally, Quarry LP grew its holdings in BankUnited by 9,157.5% during the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 3,663 shares during the last quarter. 99.70% of the stock is currently owned by institutional investors.

BankUnited Stock Up 2.0%

Shares of BankUnited stock opened at $36.97 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 10.84 and a beta of 1.27. The firm’s 50-day moving average is $38.39 and its two-hundred day moving average is $36.02. BankUnited, Inc. has a 1 year low of $28.21 and a 1 year high of $44.45.

BankUnited (NYSE:BKU) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.79 by $0.12. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. The business had revenue of $273.93 million during the quarter, compared to analyst estimates of $267.17 million. During the same quarter in the previous year, the business posted $0.72 EPS. As a group, research analysts expect that BankUnited, Inc. will post 3.13 earnings per share for the current fiscal year.

BankUnited Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 10th. BankUnited’s dividend payout ratio (DPR) is 36.36%.

Analyst Ratings Changes

Several analysts have issued reports on BKU shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of BankUnited in a research note on Thursday, July 24th. Wells Fargo & Company raised their price target on BankUnited from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Cantor Fitzgerald assumed coverage on BankUnited in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $44.00 price objective on the stock. Hovde Group increased their target price on BankUnited from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Finally, Piper Sandler reissued a “neutral” rating and set a $43.00 target price (up from $41.00) on shares of BankUnited in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BankUnited presently has a consensus rating of “Hold” and a consensus price target of $41.91.

Insiders Place Their Bets

In related news, Director Douglas J. Pauls sold 3,500 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $38.79, for a total transaction of $135,765.00. Following the sale, the director owned 43,205 shares of the company’s stock, valued at $1,675,921.95. This trade represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jay D. Richards sold 3,942 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $38.81, for a total transaction of $152,989.02. Following the completion of the transaction, the insider owned 39,193 shares of the company’s stock, valued at $1,521,080.33. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.

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.