Wellington Management Group LLP Buys Shares of 145,499 BankUnited, Inc. (NYSE:BKU)

Wellington Management Group LLP bought a new position in BankUnited, Inc. (NYSE:BKU) in the third quarter, Holdings Channel.com reports. The firm bought 145,499 shares of the financial services provider’s stock, valued at approximately $5,302,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its stake in BankUnited by 307.6% in the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 1,455 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of BankUnited in the 2nd quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BankUnited during the 2nd quarter valued at $169,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 686 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in BankUnited in the 2nd quarter worth about $175,000. 99.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays lifted their price target on BankUnited from $39.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods lifted their target price on shares of BankUnited from $38.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Compass Point upped their price target on shares of BankUnited from $42.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group lifted 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. Finally, Wedbush increased their price objective on BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, BankUnited currently has a consensus rating of “Hold” and a consensus price target of $41.45.

Insider Activity at BankUnited

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

BankUnited Stock Performance

Shares of BankUnited stock opened at $40.82 on Tuesday. The business has a 50-day moving average price of $38.92 and a two-hundred day moving average price of $35.58. BankUnited, Inc. has a 1-year low of $24.34 and a 1-year high of $44.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.28. The company has a market cap of $3.05 billion, a P/E ratio of 16.73 and a beta of 1.36.

BankUnited (NYSE:BKU) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The business had revenue of $515.24 million during the quarter, compared to analysts’ expectations of $258.65 million. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that BankUnited, Inc. will post 2.89 EPS for the current year.

BankUnited Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were paid a $0.29 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.84%. BankUnited’s dividend payout ratio is currently 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.