21,336 Shares in BankUnited, Inc. (NYSE:BKU) Bought by Dynamic Technology Lab Private Ltd

28 Nov 2024, 10:36 by Danessa Lincoln · The Markets Daily

Dynamic Technology Lab Private Ltd bought a new position in BankUnited, Inc. (NYSE:BKU – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,336 shares of the financial services provider’s stock, valued at approximately $777,000.

Several other large investors have also recently bought and sold shares of BKU. Alpha DNA Investment Management LLC acquired a new position in BankUnited during the 3rd quarter worth about $443,000. Algert Global LLC lifted its stake in shares of BankUnited by 23.7% in the third quarter. Algert Global LLC now owns 308,212 shares of the financial services provider’s stock worth $11,231,000 after acquiring an additional 59,029 shares during the period. Cerity Partners LLC acquired a new stake in BankUnited during the 3rd quarter valued at approximately $434,000. Intech Investment Management LLC increased its position in BankUnited by 70.0% during the 3rd quarter. Intech Investment Management LLC now owns 29,879 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 12,301 shares during the period. Finally, Pathstone Holdings LLC raised its holdings in BankUnited by 18.2% during the 3rd quarter. Pathstone Holdings LLC now owns 58,619 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 9,010 shares during the last quarter. 99.70% of the stock is currently owned by institutional investors.

Insider Activity at BankUnited

In related news, COO Thomas M. Cornish sold 10,778 shares of the 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 sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, 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 SEC, which can be accessed through this link. Also, insider Jay D. Richards sold 2,500 shares of BankUnited stock in a transaction 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 sale, the insider now owns 34,687 shares in the company, valued at $1,428,410.66. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $37.00 price objective on shares of BankUnited in a research note on Wednesday, October 23rd. Citigroup dropped their price target on BankUnited from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Wedbush upped their price objective on shares of BankUnited from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company upgraded BankUnited from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $48.00 in a research note on Wednesday, November 13th. Finally, Barclays upped their price target on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BankUnited currently has a consensus rating of “Hold” and an average target price of $38.70.

Check Out Our Latest Stock Analysis on BankUnited

BankUnited Stock Performance

Shares of BKU opened at $42.36 on Thursday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 17.36 and a beta of 1.33. BankUnited, Inc. has a 52 week low of $24.34 and a 52 week high of $44.45. The stock has a 50 day moving average price of $37.37 and a two-hundred day moving average price of $34.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.88 and a current ratio of 0.88.

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

BankUnited Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 11th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.74%. BankUnited’s dividend payout ratio is currently 47.54%.

BankUnited Profile

(Free Report)