KLP Kapitalforvaltning AS Takes $580,000 Position in BankUnited, Inc. (NYSE:BKU)

KLP Kapitalforvaltning AS acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,200 shares of the financial services provider's stock, valued at approximately $580,000.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in BankUnited in the third quarter worth approximately $5,302,000. Jane Street Group LLC grew its holdings in shares of BankUnited by 194.1% in the 3rd quarter. Jane Street Group LLC now owns 193,062 shares of the financial services provider's stock worth $7,035,000 after acquiring an additional 127,415 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of BankUnited during the fourth quarter worth $3,668,000. FMR LLC lifted its holdings in shares of BankUnited by 40.0% during the third quarter. FMR LLC now owns 275,556 shares of the financial services provider's stock valued at $10,041,000 after purchasing an additional 78,753 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of BankUnited by 22.5% during the fourth quarter. Fisher Asset Management LLC now owns 403,000 shares of the financial services provider's stock valued at $15,383,000 after purchasing an additional 74,000 shares during the last quarter. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Up 0.1 %

NYSE BKU traded up $0.04 on Monday, reaching $29.82. The stock had a trading volume of 1,196,610 shares, compared to its average volume of 771,212. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.04. BankUnited, Inc. has a 1 year low of $24.34 and a 1 year high of $44.45. The business has a 50 day moving average price of $36.74 and a 200 day moving average price of $37.85. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 9.68 and a beta of 1.20.

BankUnited (NYSE:BKU - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.72 by $0.19. BankUnited had a return on equity of 8.48% and a net margin of 11.48%. During the same period in the previous year, the business posted $0.26 earnings per share. On average, analysts forecast that BankUnited, Inc. will post 3.13 EPS for the current fiscal year.

BankUnited Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 11th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from BankUnited's previous quarterly dividend of $0.29. BankUnited's dividend payout ratio (DPR) is currently 40.26%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on BankUnited from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of BankUnited from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Piper Sandler upgraded shares of BankUnited from a "neutral" rating to an "overweight" rating and set a $41.00 price objective on the stock in a research report on Tuesday, March 11th. Hovde Group reduced their target price on BankUnited from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, March 25th. Finally, Compass Point lifted their price target on BankUnited from $42.00 to $49.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $43.45.

Insider Activity at BankUnited

In related news, Director Sanjiv Sobti acquired 1,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $32.83 per share, with a total value of $32,830.00. Following the purchase, the director now owns 21,782 shares of the company's stock, valued at approximately $715,103.06. The trade was a 4.81 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin A. Malcolm sold 3,234 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $35.18, for a total value of $113,772.12. Following the sale, the insider now directly owns 12,250 shares of the company's stock, valued at $430,955. The trade was a 20.89 % decrease in their position. The disclosure for this sale can be found here. 1.19% of the stock is owned by company insiders.

BankUnited Company Profile

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.