CIBC Asset Management Inc increased its holdings in shares of BankUnited (NYSE:BKU) by 18.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,503 shares of the financial services provider’s stock after purchasing an additional 6,770 shares during the quarter. CIBC Asset Management Inc’s holdings in BankUnited were worth $1,540,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE lifted its position in BankUnited by 43.0% during the second quarter. US Bancorp DE now owns 11,333 shares of the financial services provider’s stock worth $462,000 after buying an additional 3,408 shares during the period. Bank of New York Mellon Corp lifted its position in BankUnited by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 563,497 shares of the financial services provider’s stock worth $23,019,000 after buying an additional 19,029 shares during the period. Strs Ohio lifted its position in BankUnited by 9.3% during the third quarter. Strs Ohio now owns 658,846 shares of the financial services provider’s stock worth $23,323,000 after buying an additional 55,836 shares during the period. NorthCoast Asset Management LLC lifted its position in BankUnited by 4.4% during the second quarter. NorthCoast Asset Management LLC now owns 35,620 shares of the financial services provider’s stock worth $1,455,000 after buying an additional 1,493 shares during the period. Finally, OppenheimerFunds Inc. lifted its position in BankUnited by 2.7% during the second quarter. OppenheimerFunds Inc. now owns 777,471 shares of the financial services provider’s stock worth $31,760,000 after buying an additional 20,344 shares during the period. Hedge funds and other institutional investors own 92.82% of the company’s stock.
BankUnited stock opened at $34.50 on Friday. The stock has a market capitalization of $3.52 billion, a PE ratio of 10.20, a PEG ratio of 1.19 and a beta of 0.97. The company has a current ratio of 0.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.61. BankUnited has a 12 month low of $29.86 and a 12 month high of $44.97.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, October 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. BankUnited’s dividend payout ratio (DPR) is 31.70%.
In other news, COO Thomas M. Cornish sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $40.02, for a total value of $400,200.00. Following the transaction, the chief operating officer now directly owns 90,249 shares in the company, valued at approximately $3,611,764.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $31.82, for a total value of $31,820.00. Following the completion of the transaction, the insider now owns 24,118 shares in the company, valued at $767,434.76. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Several research firms recently weighed in on BKU. BMO Capital Markets reduced their target price on BankUnited from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. ValuEngine downgraded BankUnited from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. FIG Partners upgraded BankUnited from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Thursday, October 25th. Stephens set a $40.00 target price on BankUnited and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Sandler O’Neill set a $47.00 target price on BankUnited and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $43.09.
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BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, and savings accounts, as well as certificates of deposit; and treasury management services.
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