Verition Fund Management LLC acquired a new position in BankUnited (NYSE:BKU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,204 shares of the financial services provider’s stock, valued at approximately $207,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its holdings in BankUnited by 26.1% in the second quarter. Stifel Financial Corp now owns 44,297 shares of the financial services provider’s stock worth $897,000 after buying an additional 9,172 shares during the last quarter. Brookfield Asset Management Inc. acquired a new position in BankUnited during the second quarter valued at approximately $1,646,000. Balyasny Asset Management LLC acquired a new position in BankUnited during the second quarter valued at approximately $2,537,000. Forest Hill Capital LLC grew its holdings in BankUnited by 1.2% during the second quarter. Forest Hill Capital LLC now owns 251,514 shares of the financial services provider’s stock valued at $5,093,000 after purchasing an additional 3,000 shares during the last quarter. Finally, FMR LLC grew its holdings in BankUnited by 30.3% during the second quarter. FMR LLC now owns 4,148,294 shares of the financial services provider’s stock valued at $84,003,000 after purchasing an additional 964,062 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Several brokerages have recently issued reports on BKU. Piper Sandler upgraded shares of BankUnited from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $22.00 to $27.00 in a research note on Thursday, July 30th. ValuEngine downgraded shares of BankUnited from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Wedbush raised their price objective on shares of BankUnited from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. UBS Group raised their price objective on shares of BankUnited from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $25.00 price objective on shares of BankUnited in a research note on Thursday, July 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.17.
Shares of NYSE BKU opened at $23.24 on Wednesday. The stock has a market cap of $2.19 billion, a PE ratio of 10.81, a PEG ratio of 5.01 and a beta of 1.38. The business has a fifty day moving average of $22.62 and a two-hundred day moving average of $20.51. BankUnited has a 52-week low of $13.47 and a 52-week high of $37.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.89 and a current ratio of 0.89.
BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.59. The company had revenue of $228.69 million during the quarter, compared to analysts’ expectations of $217.68 million. BankUnited had a return on equity of 7.57% and a net margin of 15.86%. During the same period last year, the business earned $0.81 earnings per share. Analysts predict that BankUnited will post 1.75 earnings per share for the current year.
BankUnited Company Profile
BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, savings accounts, and certificates of deposit; and treasury management services.
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