Canada Pension Plan Investment Board Buys Shares of 63,300 BankUnited, Inc. (NYSE:BKU)

Canada Pension Plan Investment Board purchased a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 63,300 shares of the financial services provider's stock, valued at approximately $2,416,000. Canada Pension Plan Investment Board owned 0.08% of BankUnited at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. boosted its position in shares of BankUnited by 182.3% during the 4th quarter. Blue Trust Inc. now owns 847 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 547 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of BankUnited by 42.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,380 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 410 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of BankUnited by 270.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,927 shares of the financial services provider's stock worth $74,000 after buying an additional 1,407 shares in the last quarter. R Squared Ltd bought a new position in shares of BankUnited during the 4th quarter worth approximately $113,000. Finally, KBC Group NV boosted its stake in BankUnited by 87.8% in the 4th quarter. KBC Group NV now owns 4,028 shares of the financial services provider's stock valued at $154,000 after buying an additional 1,883 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company's stock.

Analyst Ratings Changes

BKU has been the subject of several recent analyst reports. Hovde Group dropped their price objective on BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Wells Fargo & Company cut their price target on shares of BankUnited from $50.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada boosted their price target on shares of BankUnited from $42.00 to $43.00 and gave the company a "sector perform" rating in a research report on Thursday, January 23rd. Piper Sandler raised shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price objective for the company in a report on Tuesday, March 11th. Finally, StockNews.com downgraded BankUnited from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, BankUnited currently has an average rating of "Hold" and an average target price of $42.18.

Insider Activity

In other news, insider Kevin A. Malcolm sold 3,234 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total value of $113,772.12. Following the completion of the sale, the insider now directly owns 12,250 shares of the company's stock, valued at $430,955. This represents a 20.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sanjiv Sobti acquired 1,000 shares of BankUnited stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $32.83 per share, for a total transaction of $32,830.00. Following the purchase, the director now directly owns 21,782 shares in the company, valued at $715,103.06. The trade was a 4.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by company insiders.

BankUnited Trading Down 2.4 %

Shares of BKU stock traded down $0.79 on Monday, reaching $32.84. 941,558 shares of the stock were exchanged, compared to its average volume of 784,843. The stock has a 50 day moving average price of $33.69 and a 200 day moving average price of $37.34. The stock has a market cap of $2.47 billion, a PE ratio of 10.67 and a beta of 1.20. BankUnited, Inc. has a one year low of $20.42 and a one year high of $44.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.86 and a quick ratio of 0.88.

BankUnited (NYSE:BKU - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.04. BankUnited had a net margin of 11.48% and a return on equity of 8.48%. The company had revenue of $255.41 million for the quarter, compared to the consensus estimate of $264.35 million. During the same period in the prior year, the company posted $0.64 EPS. Equities research analysts forecast that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be given a dividend of $0.31 per share. This is a boost from BankUnited's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.24 annualized dividend and a dividend yield of 3.78%. BankUnited's payout ratio is presently 40.26%.

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.