Victory Capital Management Amplifies Stake in BankUnited, Inc.

During the third quarter, Victory Capital Management Inc. decided to increase its investment in BankUnited, Inc. (NYSE: BKU), which resulted in a substantial 23.9% boost in their stock possession. According to recent disclosures, the firm's increased confidence in the financial service provider led them to hold 27,117 shares, which was a growth of 5,235 shares. These holdings are reported to be valued at approximately $616,000 at the time of the latest filing with the Securities and Exchange Commission (SEC).

Other Investors Expand Their Positions

Victory Capital Management Inc. isn't the only one bullish on BankUnited. Other hedge funds and institutional investors have been adjusting their stakes in the company. For example, Covestor Ltd increased their holding by over 100% in the second quarter, Allspring Global Investments Holdings LLC hiked theirs by 42.3%, and Advisor Group Holdings Inc. made an 83.4% jump in the fourth quarter. Furthermore, US Bancorp DE showed a significant rise of 347% in their position during the first quarter. These movements reflect a wide institutional endorsement of BankUnited, with ownership among these entities at a commanding 99.70% of the company's stock.

Performance of BankUnited's Stock

BankUnited's shares started at $27.56 on a buoyant note, revealing a market capitalization of $2.05 billion. The performance metrics include a PE ratio of 11.58 and a beta of 1.38, with liquidity ratios sitting at a current ratio and quick ratio of 0.92, and a debt-to-equity ratio of 1.98. The company's stock fluctuated between a twelve-month low of $15.83 and a high of $38.50. It maintained a 50-day simple moving average of $29.89 and a 200-day average of $26.68.

Quarterly Results and Dividend Announcement

In the most recent earnings report, BankUnited posted earnings of $0.27 per share for the quarter, falling short of the expected $0.69 by $0.42. Despite this, the company still maintained a net margin of 9.19% and a return on equity of 8.38%. Revenue was reported at $500.30 million, which was notably higher than the anticipated $244.11 million. During the same quarter the previous year, the company earned $0.82 per share. Additionally, the company declared a quarterly dividend which was paid at $0.27 per share, with a yield of 3.92% and a dividend payout ratio at 45.38%.

Analysts' Perspectives on BankUnited

Analysts from several research firms have varied takes on BankUnited, with some lowering ratings to 'sell' and others offering neutral stances, adjusting price targets, and maintaining sector performances. And yet one firm rates the stock as a 'buy'. The average price target from these analysts is pegged at $30.50, casting a mixed but stable outlook for the stock.

Company Overview

BankUnited, Inc. operates as the parent company of BankUnited, a national bank association that delivers various banking services across the United States. The bank caters to both retail and corporate clients, offering a range of products from deposit accounts to commercial payment and cash management services.

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