Point72 Asset Management L.P. Purchases 350,071 Shares of BankUnited, Inc. (NYSE:BKU)

Point72 Asset Management L.P. boosted its stake in shares of BankUnited, Inc. (NYSE:BKU) by 741.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,271 shares of the financial services provider’s stock after buying an additional 350,071 shares during the period. Point72 Asset Management L.P. owned approximately 0.53% of BankUnited worth $11,628,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Algert Global LLC grew its holdings in shares of BankUnited by 7.2% during the second quarter. Algert Global LLC now owns 249,183 shares of the financial services provider’s stock valued at $7,294,000 after buying an additional 16,751 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in BankUnited by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 41,438 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 2,778 shares during the last quarter. Millennium Management LLC increased its holdings in shares of BankUnited by 49.2% in the 2nd quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider’s stock worth $65,778,000 after purchasing an additional 740,896 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of BankUnited in the second quarter worth $210,000. Finally, AQR Capital Management LLC lifted its holdings in shares of BankUnited by 19.6% during the second quarter. AQR Capital Management LLC now owns 169,471 shares of the financial services provider’s stock valued at $4,960,000 after purchasing an additional 27,721 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company’s stock.

Analyst Ratings Changes

BKU has been the topic of a number of research analyst reports. Hovde Group raised their target price on BankUnited from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Wedbush upped their price objective on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their target price on BankUnited from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Citigroup reduced their price target on BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. lifted their price objective on BankUnited from $34.50 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

Insiders Place Their Bets

In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $36.61, for a total transaction of $371,335.23. Following the completion of the sale, the insider now owns 37,187 shares in the company, valued at $1,361,416.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other BankUnited news, insider Jay D. Richards sold 10,143 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $36.61, for a total value of $371,335.23. Following the completion of the sale, the insider now directly owns 37,187 shares in the company, valued at $1,361,416.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Douglas J. Pauls sold 3,500 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $36.50, for a total value of $127,750.00. Following the completion of the sale, the director now owns 43,654 shares of the company’s stock, valued at $1,593,371. The disclosure for this sale can be found here. Insiders have sold 21,507 shares of company stock worth $802,400 in the last ninety days. 1.19% of the stock is owned by company insiders.

BankUnited Stock Up 2.5 %

NYSE BKU opened at $36.44 on Tuesday. BankUnited, Inc. has a 52 week low of $20.84 and a 52 week high of $39.51. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.22. The company has a fifty day moving average of $36.60 and a two-hundred day moving average of $31.33. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 15.71 and a beta of 1.33.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.65 million. BankUnited had a return on equity of 7.76% and a net margin of 8.41%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. On average, analysts predict that BankUnited, Inc. will post 2.88 earnings per share for the current year.

BankUnited Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.16 annualized dividend and a yield of 3.18%. BankUnited’s dividend payout ratio (DPR) is 50.00%.

About BankUnited

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.