VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in BankUnited, Inc. $BKU

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in BankUnited, Inc. (NYSE:BKU) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 63,716 shares of the financial services provider’s stock, valued at approximately $2,268,000.

Other large investors have also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of BankUnited during the first quarter worth approximately $28,000. Brooklyn Investment Group increased its stake in shares of BankUnited by 14,050.0% in the first quarter. Brooklyn Investment Group now owns 849 shares of the financial services provider’s stock worth $29,000 after buying an additional 843 shares during the period. Bayforest Capital Ltd increased its position in BankUnited by 32.3% during the 2nd quarter. Bayforest Capital Ltd now owns 1,111 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 271 shares during the period. Headlands Technologies LLC increased its position in BankUnited by 697.4% during the 1st quarter. Headlands Technologies LLC now owns 2,464 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,155 shares during the period. Finally, Quarry LP increased its position in BankUnited by 9,157.5% during the 1st quarter. Quarry LP now owns 3,703 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 3,663 shares during the period. 99.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BankUnited

In other BankUnited news, insider Jay D. Richards sold 3,942 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.81, for a total value of $152,989.02. Following the completion of the transaction, the insider directly owned 39,193 shares in the company, valued at $1,521,080.33. This represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas J. Pauls sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $38.79, for a total value of $135,765.00. Following the completion of the transaction, the director owned 43,205 shares of the company’s stock, valued at $1,675,921.95. The trade was a 7.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

BankUnited Trading Down 0.2%

BankUnited stock opened at $36.85 on Wednesday. The firm has a 50 day moving average of $38.38 and a 200 day moving average of $36.03. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 10.81 and a beta of 1.27. BankUnited, Inc. has a 12-month low of $28.21 and a 12-month high of $44.45. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.76.

BankUnited (NYSE:BKU) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.12. The company had revenue of $273.93 million during the quarter, compared to analyst estimates of $267.17 million. BankUnited had a net margin of 13.19% and a return on equity of 9.00%. During the same period in the prior year, the firm posted $0.72 EPS. As a group, research analysts predict that BankUnited, Inc. will post 3.13 earnings per share for the current year.

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, October 10th. BankUnited’s dividend payout ratio is currently 36.36%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BKU. Weiss Ratings restated a “buy (b-)” rating on shares of BankUnited in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of BankUnited in a research note on Thursday, July 24th. Wall Street Zen raised BankUnited from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler reaffirmed a “neutral” rating and set a $43.00 price target (up previously from $41.00) on shares of BankUnited in a research report on Thursday, July 24th. Finally, Hovde Group upped their price target on shares of BankUnited from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.91.

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.