Wellington Management Group LLP Acquires Shares of 145,499 BankUnited, Inc. (NYSE:BKU)

Wellington Management Group LLP acquired a new stake in BankUnited, Inc. (NYSE:BKU - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 145,499 shares of the financial services provider's stock, valued at approximately $5,302,000. Wellington Management Group LLP owned 0.19% of BankUnited as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BKU. Millennium Management LLC grew its holdings in BankUnited by 49.2% in the second quarter. Millennium Management LLC now owns 2,247,271 shares of the financial services provider's stock valued at $65,778,000 after purchasing an additional 740,896 shares during the last quarter. Bank of Montreal Can grew its stake in BankUnited by 3,901.0% in the 2nd quarter. Bank of Montreal Can now owns 574,068 shares of the financial services provider's stock valued at $16,803,000 after acquiring an additional 559,720 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in BankUnited during the 3rd quarter valued at about $17,745,000. Point72 Asset Management L.P. raised its position in BankUnited by 741.7% during the second quarter. Point72 Asset Management L.P. now owns 397,271 shares of the financial services provider's stock worth $11,628,000 after acquiring an additional 350,071 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of BankUnited by 3,658.4% in the second quarter. Federated Hermes Inc. now owns 325,812 shares of the financial services provider's stock valued at $9,537,000 after purchasing an additional 317,143 shares in the last quarter. Hedge funds and other institutional investors own 99.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BKU. Wedbush raised their price objective on shares of BankUnited from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $37.00 price objective on shares of BankUnited in a research note on Wednesday, October 23rd. Compass Point increased their price target on BankUnited from $42.00 to $49.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price objective on shares of BankUnited from $38.00 to $45.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Citigroup reduced their target price on BankUnited from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $41.45.

Insider Activity

In other news, insider Jay D. Richards sold 2,500 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $41.18, for a total transaction of $102,950.00. Following the completion of the sale, the insider now directly owns 34,687 shares of the company's stock, valued at $1,428,410.66. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas M. Cornish sold 10,778 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $39.11, for a total value of $421,527.58. Following the sale, the chief operating officer now directly owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % 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.

BankUnited Stock Performance

Shares of BKU traded down $1.08 during mid-day trading on Tuesday, reaching $39.74. 502,236 shares of the company's stock traded hands, compared to its average volume of 800,992. BankUnited, Inc. has a 12 month low of $24.34 and a 12 month high of $44.45. The stock has a market capitalization of $2.97 billion, a P/E ratio of 16.28 and a beta of 1.36. The business's 50-day moving average price is $38.92 and its 200-day moving average price is $35.58. 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 analysts' consensus estimates of $0.74 by $0.07. BankUnited had a return on equity of 8.09% and a net margin of 9.06%. The company had revenue of $515.24 million during the quarter, compared to analyst estimates of $258.65 million. During the same quarter in the previous year, the firm posted $0.63 EPS. Equities analysts predict that BankUnited, Inc. will post 2.89 earnings per share for the current year.

BankUnited Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 11th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Friday, October 11th. BankUnited's payout ratio is currently 47.54%.

BankUnited 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.