84,584 Shares in BankUnited (BKU) Purchased by Sterling Capital Management LLC

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 has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 price objective on shares of BankUnited in a research report on Wednesday, December 13th. Wells Fargo reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $42.00) on shares of BankUnited in a research report on Tuesday, January 9th. Barclays reiterated a “buy” rating and issued a $42.00 price objective on shares of BankUnited in a research report on Tuesday, December 5th. JMP Securities initiated coverage on BankUnited in a research report on Tuesday, January 9th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.25.

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.

TRADEMARK VIOLATION NOTICE: “84,584 Shares in BankUnited (BKU) Purchased by Sterling Capital Management LLC” was first reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3297121/84584-shares-in-bankunited-bku-purchased-by-sterling-capital-management-llc.html.

BankUnited Profile

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.

Want to see what other hedge funds are holding BKU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BankUnited (NYSE:BKU).

Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

Receive News & Ratings for BankUnited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BankUnited and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Evine   Shares Down 6.4%
Evine Shares Down 6.4%
Rite Aid  Shares Up 5%
Rite Aid Shares Up 5%
Pennsylvania R.E.I.T.  Trading 5.7% Higher
Pennsylvania R.E.I.T. Trading 5.7% Higher
Slothcoin  One Day Volume Hits $4,181.00
Slothcoin One Day Volume Hits $4,181.00
YEE  Price Up 12.9% Over Last 7 Days
YEE Price Up 12.9% Over Last 7 Days
Lakeland Industries  Given Average Rating of “Strong Buy” by Brokerages
Lakeland Industries Given Average Rating of “Strong Buy” by Brokerages


© 2006-2018 Ticker Report. Google+.