Jennison Associates LLC Has $20.10 Million Holdings in BankUnited, Inc. (NYSE:BKU)

Jennison Associates LLC decreased its stake in shares of BankUnited, Inc. (NYSE:BKU) by 27.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 526,667 shares of the financial services provider’s stock after selling 204,177 shares during the period. Jennison Associates LLC’s holdings in BankUnited were worth $20,103,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in BankUnited by 182.3% during the fourth quarter. Blue Trust Inc. now owns 847 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 547 shares in the last quarter. R Squared Ltd bought a new position in shares of BankUnited during the 4th quarter worth about $113,000. CWM LLC grew its stake in shares of BankUnited by 118.3% in the 3rd quarter. CWM LLC now owns 4,208 shares of the financial services provider’s stock valued at $153,000 after buying an additional 2,280 shares during the period. KBC Group NV increased its position 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. Finally, GAMMA Investing LLC raised its stake in BankUnited by 17.4% during the 3rd quarter. GAMMA Investing LLC now owns 4,637 shares of the financial services provider’s stock worth $169,000 after buying an additional 686 shares during the period. Institutional investors own 99.70% of the company’s stock.

Insider Buying and Selling

In other news, COO Thomas M. Cornish sold 10,778 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $39.11, for a total transaction of $421,527.58. Following the completion of the sale, the chief operating officer now owns 100,000 shares in the company, valued at $3,911,000. This trade represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay D. Richards sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $41.18, for a total value of $102,950.00. Following the completion of the transaction, the insider now owns 34,687 shares in the company, valued at approximately $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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on BankUnited from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their price target on shares of BankUnited from $36.00 to $42.00 and gave the company a “sell” rating in a research report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of BankUnited from $42.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of BankUnited from $38.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Barclays lowered their target price on shares of BankUnited from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, BankUnited has an average rating of “Hold” and a consensus price target of $43.40.

BankUnited Price Performance

Shares of NYSE BKU opened at $40.75 on Thursday. The company has a market capitalization of $3.05 billion, a PE ratio of 13.23 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $39.75 and its 200-day moving average price is $38.03. BankUnited, Inc. has a twelve month low of $24.34 and a twelve month high of $44.45.

BankUnited (NYSE:BKU) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.91 earnings per share for the quarter, topping 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 company earned $0.26 EPS. On average, equities analysts anticipate that BankUnited, Inc. will post 3.01 EPS for the current year.

BankUnited Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.16 annualized dividend and a yield of 2.85%. BankUnited’s payout ratio is currently 37.66%.

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.