MML Investors Services LLC Invests $347,000 in BankUnited, Inc. (NYSE:BKU)

MML Investors Services LLC acquired a new stake in BankUnited, Inc. (NYSE:BKU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,535 shares of the financial services provider’s stock, valued at approximately $347,000.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position 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 during the period. Bank of Montreal Can boosted its position in BankUnited by 3,901.0% during the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider’s stock valued at $16,803,000 after acquiring an additional 559,720 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of BankUnited in the 3rd quarter worth $17,745,000. Point72 Asset Management L.P. lifted its stake in shares of BankUnited by 741.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider’s stock worth $11,628,000 after purchasing an additional 350,071 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in BankUnited by 3,658.4% during the second quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider’s stock valued at $9,537,000 after purchasing an additional 317,143 shares in the last quarter. 99.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKU has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.00 price target on shares of BankUnited in a report on Wednesday, October 23rd. Compass Point upped their price target on BankUnited from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wedbush raised their price objective on BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company raised BankUnited from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $48.00 in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.36.

Insider Buying and Selling at BankUnited

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

BankUnited Trading Up 0.6 %

Shares of NYSE:BKU opened at $38.61 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.28. BankUnited, Inc. has a 52-week low of $24.34 and a 52-week high of $44.45. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 15.82 and a beta of 1.36. The business has a 50-day moving average price of $39.18 and a 200-day moving average price of $36.00.

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

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.