PEAK6 LLC Invests $963,000 in BankUnited, Inc. $BKU

PEAK6 LLC acquired a new stake in BankUnited, Inc. (NYSE:BKU) in the 2nd quarter, HoldingsChannel reports. The fund acquired 19,883 shares of the financial services provider’s stock, valued at approximately $963,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in BankUnited during the second quarter worth $26,000. Strs Ohio bought a new position in shares of BankUnited in the 1st quarter valued at about $28,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of BankUnited during the 4th quarter worth about $30,000. Kestra Advisory Services LLC acquired a new position in shares of BankUnited during the 4th quarter worth about $35,000. Finally, Quarry LP raised its holdings in shares of BankUnited by 158.2% in the 3rd quarter. Quarry LP now owns 940 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 576 shares during the period. 99.70% of the stock is currently owned by institutional investors and hedge funds.

BankUnited Price Performance

Shares of NYSE BKU opened at $46.36 on Monday. The firm has a market cap of $3.30 billion, a P/E ratio of 12.70 and a beta of 1.18. The business’s 50 day moving average is $47.74 and its 200-day moving average is $47.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. BankUnited, Inc. has a 1-year low of $35.10 and a 1-year high of $52.11.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The firm had revenue of $284.57 million during the quarter, compared to analyst estimates of $290.33 million. BankUnited had a net margin of 14.76% and a return on equity of 9.13%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Equities research analysts predict that BankUnited, Inc. will post 4.01 earnings per share for the current year.

BankUnited Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, July 10th. BankUnited’s dividend payout ratio (DPR) is currently 36.16%.

Insiders Place Their Bets

In other news, insider Jay D. Richards sold 4,000 shares of BankUnited stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $48.67, for a total value of $194,680.00. Following the completion of the sale, the insider directly owned 40,502 shares in the company, valued at approximately $1,971,232.34. The trade was a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $47.90, for a total value of $143,700.00. Following the sale, the director directly owned 42,472 shares in the company, valued at $2,034,408.80. This represents a 6.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,000 shares of company stock worth $384,350 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research cut BankUnited from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Citigroup cut their price objective on BankUnited from $45.00 to $42.00 and set a “sell” rating for the company in a research report on Friday, July 24th. Barclays reduced their target price on BankUnited from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, August 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $56.00 target price on shares of BankUnited in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.64.

BankUnited Company Profile

BankUnited, Inc is a bank holding company based in Miami Lakes, Florida, operating through its subsidiary BankUnited, National Association. The company provides a broad range of commercial banking products and services, including deposit accounts, commercial lending and treasury management. It serves middle-market and small-business clients, offering tailored financing solutions across a variety of industry sectors.

The bank’s lending portfolio includes commercial and industrial loans, commercial real estate loans and construction financing, as well as residential mortgage lending.