Assenagon Asset Management S.A. Acquires 236,174 Shares of BankUnited, Inc. (NYSE:BKU)

Assenagon Asset Management S.A. boosted its position in BankUnited, Inc. (NYSE:BKU - Free Report) by 37.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 868,806 shares of the financial services provider's stock after acquiring an additional 236,174 shares during the period. Assenagon Asset Management S.A. owned 1.16% of BankUnited worth $31,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of BankUnited by 307.6% in the 2nd quarter. CWM LLC now owns 1,928 shares of the financial services provider's stock worth $56,000 after purchasing an additional 1,455 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of BankUnited in the first quarter valued at $57,000. Meeder Asset Management Inc. acquired a new position in shares of BankUnited during the second quarter valued at about $74,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BankUnited during the second quarter worth about $169,000. Finally, GAMMA Investing LLC increased its position in shares of BankUnited by 17.4% during the third quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider's stock worth $169,000 after acquiring an additional 686 shares in the last quarter. Institutional investors and hedge funds own 99.70% of the company's stock.

BankUnited Stock Performance

NYSE:BKU traded down $0.82 during trading hours on Friday, reaching $34.59. The stock had a trading volume of 1,036,697 shares, compared to its average volume of 815,205. The stock has a market cap of $2.59 billion, a P/E ratio of 14.91 and a beta of 1.33. The stock has a 50 day simple moving average of $36.41 and a 200 day simple moving average of $32.44. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.87 and a current ratio of 0.87. BankUnited, Inc. has a 12-month low of $21.13 and a 12-month high of $39.51.

BankUnited (NYSE:BKU - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. The company 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 7.76% and a net margin of 8.41%. During the same quarter in the prior year, the company earned $0.63 EPS. On average, research analysts forecast that BankUnited, Inc. will post 2.86 EPS for the current fiscal year.

BankUnited Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, October 11th. BankUnited's payout ratio is currently 50.00%.

Insider Buying and Selling

In other BankUnited news, Director William S. Rubenstein sold 7,864 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $38.57, for a total transaction of $303,314.48. Following the sale, the director now owns 10,282 shares in the company, valued at $396,576.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company lifted their price target on BankUnited from $35.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 1st. Royal Bank of Canada reiterated a "sector perform" rating and set a $37.00 price target on shares of BankUnited in a report on Wednesday. Wedbush increased their price target on BankUnited from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of BankUnited from $34.50 to $41.00 and gave the stock a "neutral" rating in a report on Tuesday, July 23rd. Finally, Citigroup reduced their target price on shares of BankUnited from $42.00 to $39.00 and set a "neutral" rating for the company in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.40.

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.