Edgestream Partners L.P. Makes New Investment in BankUnited, Inc. $BKU

Edgestream Partners L.P. bought a new stake in shares of BankUnited, Inc. (NYSE:BKU) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 150,507 shares of the financial services provider’s stock, valued at approximately $6,797,000.

Other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in BankUnited by 21.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,472 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 255 shares in the last quarter. Covestor Ltd increased its stake in shares of BankUnited by 20.9% during the fourth quarter. Covestor Ltd now owns 1,673 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 289 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of BankUnited by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,213 shares of the financial services provider’s stock valued at $767,000 after purchasing an additional 300 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BankUnited by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,810 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 358 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of BankUnited by 2.4% in the 3rd quarter. Mackenzie Financial Corp now owns 19,550 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 455 shares in the last quarter. 99.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BKU shares. Wall Street Zen upgraded BankUnited from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Royal Bank Of Canada lowered their price objective on BankUnited from $53.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, July 23rd. Hovde Group dropped their target price on BankUnited from $55.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup cut their target price on BankUnited from $45.00 to $42.00 and set a “sell” rating on the stock in a research note on Friday, July 24th. Finally, Raymond James Financial restated an “outperform” rating on shares of BankUnited in a report on Wednesday, April 22nd. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.00.

Insider Activity at BankUnited

In related news, insider Jay D. Richards sold 4,000 shares of the firm’s 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 sale, the insider owned 40,502 shares in the company, valued at approximately $1,971,232.34. This trade represents a 8.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John N. Digiacomo sold 1,000 shares of BankUnited stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.97, for a total transaction of $45,970.00. Following the completion of the sale, the director directly owned 15,027 shares of the company’s stock, valued at approximately $690,791.19. This trade represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by insiders.

BankUnited Trading Up 0.1%

BankUnited stock opened at $46.10 on Friday. BankUnited, Inc. has a one year low of $34.79 and a one year high of $52.11. The business’s fifty day moving average is $47.71 and its 200 day moving average is $47.08. The stock has a market capitalization of $3.35 billion, a PE ratio of 12.63 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.82 and a quick ratio of 0.82.

BankUnited (NYSE:BKU) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The business had revenue of $284.57 million during the quarter, compared to analysts’ expectations of $290.33 million. BankUnited had a return on equity of 9.13% and a net margin of 14.76%.BankUnited’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. On average, sell-side analysts predict that BankUnited, Inc. will post 4.09 EPS for the current year.

BankUnited Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a $0.33 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.9%. BankUnited’s payout ratio is currently 36.16%.

About BankUnited

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.