Jennison Associates LLC Cuts Stock Position in BankUnited (NYSE:BKU)

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Jennison Associates LLC cut its holdings in BankUnited (NYSE:BKU) by 10.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,904,104 shares of the financial services provider’s stock after selling 333,955 shares during the quarter. Jennison Associates LLC owned 2.95% of BankUnited worth $97,984,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pearl River Capital LLC purchased a new stake in shares of BankUnited in the first quarter valued at approximately $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of BankUnited in the first quarter valued at approximately $34,000. Marshall Wace North America L.P. acquired a new stake in shares of BankUnited in the first quarter worth approximately $47,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of BankUnited in the second quarter worth approximately $52,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of BankUnited by 603.6% in the first quarter. Rockefeller Capital Management L.P. now owns 3,870 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 3,320 shares during the last quarter. Institutional investors and hedge funds own 97.98% of the company’s stock.

BKU has been the topic of a number of research analyst reports. Zacks Investment Research raised BankUnited from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday, May 24th. ValuEngine lowered BankUnited from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.63.

Shares of NYSE:BKU traded down $1.00 during trading on Friday, reaching $30.84. The stock had a trading volume of 535,608 shares, compared to its average volume of 617,510. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.94 and a current ratio of 0.95. The business has a fifty day moving average price of $32.60 and a 200-day moving average price of $34.22. The stock has a market cap of $3.03 billion, a PE ratio of 13.07, a PEG ratio of 1.25 and a beta of 1.11. BankUnited has a 1-year low of $28.05 and a 1-year high of $40.48.

BankUnited (NYSE:BKU) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.13. The firm had revenue of $226.22 million for the quarter, compared to analyst estimates of $224.42 million. BankUnited had a return on equity of 10.21% and a net margin of 18.74%. During the same period in the previous year, the company posted $0.82 earnings per share. Sell-side analysts expect that BankUnited will post 2.89 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 12th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Thursday, July 11th. BankUnited’s dividend payout ratio (DPR) is currently 35.59%.

In other BankUnited news, insider Jay D. Richards sold 1,782 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $34.45, for a total transaction of $61,389.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

BankUnited Company Profile

BankUnited, Inc operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate customers in the United States. The company offers deposit products, such as checking, money market deposit, savings accounts, and certificates of deposit; and treasury management services.

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Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

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