Norges Bank Buys New Position in BankUnited (BKU)

Norges Bank acquired a new position in BankUnited (NYSE:BKU) during the fourth quarter, Holdings Channel reports. The fund acquired 955,340 shares of the financial services provider’s stock, valued at approximately $36,007,000.

Other large investors have also modified their holdings of the company. Boothbay Fund Management LLC boosted its stake in shares of BankUnited by 37.1% in the fourth quarter. Boothbay Fund Management LLC now owns 12,811 shares of the financial services provider’s stock worth $483,000 after buying an additional 3,469 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of BankUnited by 4.4% in the fourth quarter. AQR Capital Management LLC now owns 37,914 shares of the financial services provider’s stock worth $1,429,000 after buying an additional 1,603 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of BankUnited by 46.9% in the fourth quarter. Guggenheim Capital LLC now owns 30,497 shares of the financial services provider’s stock worth $1,149,000 after buying an additional 9,734 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of BankUnited during the fourth quarter worth about $629,000. Finally, Alyeska Investment Group L.P. boosted its stake in shares of BankUnited by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 358,736 shares of the financial services provider’s stock worth $13,521,000 after buying an additional 2,859 shares in the last quarter. Hedge funds and other institutional investors own 96.92% of the company’s stock.

Institutional Ownership by Quarter for BankUnited (NYSE:BKU)

BankUnited (NYSE:BKU) opened at 35.60 on Tuesday. The firm’s 50-day moving average is $38.83 and its 200-day moving average is $35.05. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 17.00 and a beta of 1.01. BankUnited has a 52-week low of $27.85 and a 52-week high of $41.00.

BankUnited (NYSE:BKU) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. BankUnited had a net margin of 19.37% and a return on equity of 9.72%. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $254.98 million. During the same period last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts forecast that BankUnited will post $2.42 EPS for the current fiscal year.

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A number of equities research analysts recently issued reports on the stock. Deutsche Bank AG decreased their price objective on shares of BankUnited to $43.00 in a report on Friday. Zacks Investment Research cut shares of BankUnited from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Hovde Group upgraded shares of BankUnited from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Tuesday, February 14th. Barclays PLC upped their price objective on shares of BankUnited from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Finally, Stephens assumed coverage on shares of BankUnited in a report on Wednesday, December 21st. They issued an “overweight” rating and a $44.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $38.96.

In related news, Director Douglas J. Pauls sold 11,200 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $40.60, for a total transaction of $454,720.00. Following the sale, the director now directly owns 31,380 shares in the company, valued at $1,274,028. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Bagnoli sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $39.92, for a total transaction of $39,920.00. Following the sale, the insider now owns 15,699 shares in the company, valued at $626,704.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,240,217 shares of company stock worth $84,316,474. 5.10% of the stock is currently owned by company insiders.

BankUnited Company Profile

BankUnited, Inc is the bank holding company of BankUnited (the Bank). The bank is a national banking association. As of December 31, 2016, the Bank provided a range of banking services to individual and corporate customers through 94 banking centers located in 15 Florida counties and six banking centers in the New York metropolitan area.

5 Day Chart for NYSE:BKU

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