BankUnited, Inc. (NYSE:BKU) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in BankUnited, Inc. (NYSE:BKU) by 48.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 730,844 shares of the financial services provider’s stock after selling 695,791 shares during the period. Jennison Associates LLC’s holdings in BankUnited were worth $26,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pathstone Holdings LLC boosted its stake in shares of 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 acquiring an additional 9,010 shares in the last quarter. LMR Partners LLP acquired a new position in shares of BankUnited in the 3rd quarter valued at $557,000. Quest Partners LLC purchased a new position in BankUnited in the 3rd quarter worth about $825,000. Aigen Investment Management LP purchased a new stake in BankUnited during the third quarter valued at about $257,000. Finally, GSA Capital Partners LLP acquired a new position in shares of BankUnited in the third quarter worth about $257,000. 99.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKU has been the topic of several research analyst reports. Wedbush lifted their price objective on shares of BankUnited from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Wells Fargo & Company upgraded BankUnited from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $48.00 in a report on Wednesday, November 13th. Barclays increased their price objective on BankUnited from $35.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $37.00 target price on shares of BankUnited in a research note on Wednesday, October 23rd. Finally, Citigroup reduced their price target on shares of BankUnited from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.40.

Insider Activity

In related news, COO Thomas M. Cornish sold 10,778 shares of BankUnited stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $39.11, for a total transaction of $421,527.58. Following the sale, the chief operating officer now directly owns 100,000 shares of the company’s stock, valued at $3,911,000. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of BankUnited stock in a transaction that occurred 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 directly owns 34,687 shares in the company, valued at $1,428,410.66. The trade was a 6.72 % decrease in their position. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by company insiders.

BankUnited Stock Performance

Shares of NYSE BKU opened at $42.72 on Friday. The business’s 50-day simple moving average is $36.99 and its 200-day simple moving average is $33.97. 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, Inc. has a 52 week low of $24.34 and a 52 week high of $42.83. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 17.51 and a beta of 1.33.

BankUnited (NYSE:BKU) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $515.24 million for the quarter, compared to analyst estimates of $258.65 million. BankUnited had a net margin of 9.06% and a return on equity of 8.09%. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, equities research analysts expect that BankUnited, Inc. will post 2.89 earnings per share for the current fiscal 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 issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, October 11th. BankUnited’s dividend payout ratio (DPR) is 47.54%.

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.