Y Intercept Hong Kong Ltd Invests $1.26 Million in BankUnited, Inc. (NYSE:BKU)

Y Intercept Hong Kong Ltd bought a new stake in BankUnited, Inc. (NYSE:BKU) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 34,607 shares of the financial services provider’s stock, valued at approximately $1,261,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of BankUnited by 307.6% during the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 1,455 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in BankUnited during the second quarter worth approximately $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BankUnited in the 2nd quarter worth $169,000. GAMMA Investing LLC raised its position in shares of BankUnited by 17.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 686 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in shares of BankUnited during the second quarter worth approximately $175,000. 99.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BankUnited

In other news, COO Thomas M. Cornish sold 10,778 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $39.11, for a total value of $421,527.58. Following the completion of the transaction, the chief operating officer now owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the sale, the insider now directly owns 34,687 shares in the company, valued at approximately $1,428,410.66. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BKU. Keefe, Bruyette & Woods upped their price objective on shares of BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Compass Point increased their target price on shares of BankUnited from $42.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada restated a “sector perform” rating and set a $37.00 price target on shares of BankUnited in a research report on Wednesday, October 23rd. Barclays boosted their target price on BankUnited from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, The Goldman Sachs Group boosted their price target on shares of BankUnited from $36.00 to $42.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.45.

BankUnited Price Performance

Shares of NYSE BKU opened at $41.24 on Thursday. The stock has a fifty day moving average price of $38.59 and a 200 day moving average price of $35.26. BankUnited, Inc. has a 1-year low of $24.34 and a 1-year high of $44.45. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $3.08 billion, a PE ratio of 16.90 and a beta of 1.36.

BankUnited (NYSE:BKU) last issued its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. The business had revenue of $515.24 million for the quarter, compared to the consensus estimate of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts forecast that BankUnited, Inc. will post 2.89 EPS for the current year.

BankUnited Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, October 11th. BankUnited’s payout ratio is 47.54%.

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.