Jain Global LLC Invests $11.22 Million in BankUnited, Inc. $BKU

Jain Global LLC acquired a new position in shares of BankUnited, Inc. (NYSE:BKU) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 294,124 shares of the financial services provider’s stock, valued at approximately $11,224,000. Jain Global LLC owned about 0.39% of BankUnited at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. HoldCo Asset Management LP bought a new position in BankUnited in the third quarter worth about $35,752,000. Brevan Howard Capital Management LP boosted its holdings in shares of BankUnited by 148.5% in the 3rd quarter. Brevan Howard Capital Management LP now owns 30,280 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 18,094 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of BankUnited in the 3rd quarter worth approximately $4,648,000. Bank of America Corp DE grew its position in shares of BankUnited by 30.6% in the 3rd quarter. Bank of America Corp DE now owns 895,574 shares of the financial services provider’s stock worth $34,175,000 after buying an additional 210,075 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of BankUnited during the 3rd quarter worth approximately $3,633,000. Institutional investors own 99.70% of the company’s stock.

Insiders Place Their Bets

In other news, insider Kevin A. Malcolm sold 3,447 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $47.11, for a total value of $162,388.17. Following the completion of the transaction, the insider directly owned 11,500 shares in the company, valued at $541,765. This trade represents a 23.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jay D. Richards sold 3,506 shares of BankUnited stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $49.83, for a total value of $174,703.98. Following the sale, the insider directly owned 35,687 shares of the company’s stock, valued at $1,778,283.21. This trade represents a 8.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 11,953 shares of company stock valued at $591,492. 1.15% of the stock is owned by company insiders.

BankUnited Trading Up 0.7%

Shares of BankUnited stock opened at $43.08 on Tuesday. The firm’s 50 day simple moving average is $47.35 and its two-hundred day simple moving average is $43.16. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 12.17 and a beta of 1.29. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $52.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.51.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.85 by $0.09. The business had revenue of $260.80 million during the quarter, compared to the consensus estimate of $279.76 million. BankUnited had a net margin of 14.14% and a return on equity of 9.09%. During the same period in the previous year, the firm posted $0.91 earnings per share. Analysts predict that BankUnited, Inc. will post 3.13 EPS for the current year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 9th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, January 9th. This represents a $1.24 dividend on an annualized basis and a yield of 2.9%. BankUnited’s payout ratio is currently 35.03%.

Analyst Upgrades and Downgrades

BKU has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on shares of BankUnited from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company upped their price target on BankUnited from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of BankUnited in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on BankUnited from $42.00 to $55.00 and gave the stock a “market perform” rating in a research note on Thursday, January 22nd. Finally, Susquehanna raised BankUnited to a “positive” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.55.

BankUnited 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.