Schwab Charles Investment Management Inc. Buys 27,141 Shares of BankUnited (BKU)
Schwab Charles Investment Management Inc. boosted its stake in shares of BankUnited (NYSE:BKU) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,290 shares of the financial services provider’s stock after purchasing an additional 27,141 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in BankUnited were worth $26,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new stake in BankUnited in the third quarter worth about $174,000. Forward Management LLC acquired a new stake in BankUnited in the third quarter worth about $192,000. QS Investors LLC boosted its holdings in BankUnited by 9.6% in the second quarter. QS Investors LLC now owns 6,280 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 550 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in BankUnited in the third quarter worth about $226,000. Finally, Gotham Asset Management LLC acquired a new stake in BankUnited in the second quarter worth about $228,000. 96.43% of the stock is currently owned by institutional investors.
BankUnited (NYSE:BKU) opened at $40.63 on Thursday. BankUnited has a 12 month low of $30.37 and a 12 month high of $43.84. The stock has a market capitalization of $4,238.67, a PE ratio of 7.28, a PEG ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.86.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Thursday, January 11th. BankUnited’s payout ratio is 15.05%.
BankUnited declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 23rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have weighed in on the company. Barclays raised their price target on BankUnited from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $41.00 price target on shares of BankUnited in a report on Wednesday, January 24th. Zacks Investment Research raised BankUnited from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Friday, January 12th. ValuEngine raised BankUnited from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $50.00 price target (up previously from $42.00) on shares of BankUnited in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. BankUnited has an average rating of “Hold” and a consensus target price of $43.09.
In other news, Director Douglas J. Pauls sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $42.12, for a total value of $1,684,800.00. Following the completion of the transaction, the director now directly owns 31,380 shares in the company, valued at $1,321,725.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Bagnoli sold 1,000 shares of BankUnited stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $35.88, for a total value of $35,880.00. Following the transaction, the insider now owns 19,699 shares of the company’s stock, valued at $706,800.12. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
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.
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