Hennessy Advisors Inc. reduced its position in shares of BankUnited, Inc. (NYSE:BKU) by 20.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,000 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in BankUnited were worth $1,348,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado raised its stake in BankUnited by 4.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,275 shares of the financial services provider’s stock worth $110,000 after buying an additional 128 shares during the period. Teton Advisors Inc. increased its holdings in BankUnited by 1.0% during the 2nd quarter. Teton Advisors Inc. now owns 25,670 shares of the financial services provider’s stock worth $865,000 after purchasing an additional 257 shares in the last quarter. Principal Financial Group Inc. increased its holdings in BankUnited by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 16,346 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 258 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BankUnited by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 276 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in BankUnited by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 65,776 shares of the financial services provider’s stock worth $2,217,000 after purchasing an additional 413 shares in the last quarter. 98.58% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on BKU shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $41.00 price objective on shares of BankUnited in a report on Friday, May 26th. BidaskClub raised BankUnited from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Wedbush reissued a “neutral” rating and set a $35.00 price objective on shares of BankUnited in a report on Tuesday, June 27th. Morgan Stanley reissued an “overweight” rating and set a $39.00 price objective (down from $40.00) on shares of BankUnited in a report on Thursday, July 6th. Finally, BMO Capital Markets reissued a “hold” rating and set a $40.00 price objective on shares of BankUnited in a report on Friday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. BankUnited presently has a consensus rating of “Buy” and a consensus target price of $41.17.
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BankUnited, Inc. (NYSE BKU) opened at 32.45 on Tuesday. BankUnited, Inc. has a 12-month low of $28.13 and a 12-month high of $41.00. The stock has a 50 day moving average price of $33.56 and a 200 day moving average price of $34.88. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 14.52 and a beta of 1.07.
BankUnited (NYSE:BKU) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. BankUnited had a net margin of 19.54% and a return on equity of 9.81%. The company had revenue of $269.48 million during the quarter, compared to analyst estimates of $258.47 million. During the same period in the previous year, the business earned $0.52 EPS. On average, analysts expect that BankUnited, Inc. will post $2.38 EPS for the current year.
In related news, Chairman John Adam Kanas sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $33.35, for a total value of $6,670,000.00. Following the completion of the transaction, the chairman now directly owns 742,866 shares in the company, valued at approximately $24,774,581.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Starr sold 7,445 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $35.08, for a total transaction of $261,170.60. Following the completion of the transaction, the insider now owns 29,000 shares of the company’s stock, valued at $1,017,320. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 586,035 shares of company stock valued at $19,373,735. 5.10% of the stock is owned by company insiders.
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.
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