Sterling Capital Management LLC bought a new stake in BankUnited (NYSE:BKU) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 84,584 shares of the financial services provider’s stock, valued at approximately $3,444,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prudential Financial Inc. lifted its position in shares of BankUnited by 89.9% in the 3rd quarter. Prudential Financial Inc. now owns 176,960 shares of the financial services provider’s stock worth $6,294,000 after acquiring an additional 83,785 shares during the period. Bank of New York Mellon Corp lifted its position in shares of BankUnited by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 565,625 shares of the financial services provider’s stock worth $20,119,000 after acquiring an additional 12,840 shares during the period. Russell Investments Group Ltd. lifted its position in shares of BankUnited by 16.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 309,881 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 43,863 shares during the period. Ameriprise Financial Inc. lifted its position in shares of BankUnited by 11.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 540,128 shares of the financial services provider’s stock worth $19,216,000 after acquiring an additional 53,656 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in shares of BankUnited in the 3rd quarter worth approximately $174,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Eugene F. Demark sold 2,682 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $42.92, for a total transaction of $115,111.44. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $686,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the transaction, the director now owns 31,380 shares of the company’s stock, valued at approximately $1,321,725.60. The disclosure for this sale can be found here. Insiders have sold a total of 45,487 shares of company stock valued at $1,920,218 in the last 90 days. 5.10% of the stock is owned by corporate insiders.
BKU stock opened at $39.21 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $4,307.49, a P/E ratio of 7.03, a P/E/G ratio of 1.44 and a beta of 0.98. BankUnited has a 52-week low of $30.37 and a 52-week high of $43.84.
BankUnited (NYSE:BKU) last posted its earnings results on Tuesday, January 23rd. The financial services provider reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.24. The business had revenue of $285.37 million during the quarter, compared to the consensus estimate of $270.33 million. BankUnited had a return on equity of 10.83% and a net margin of 45.09%. During the same quarter last year, the company earned $0.59 EPS. analysts forecast that BankUnited will post 3.18 earnings per share for the current fiscal year.
BankUnited announced that its board has authorized a share buyback plan on Tuesday, January 23rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.
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