HoldCo Acquires 936,900 Shares of BankUnited Worth $35.75 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 56m ago
0mins
Source: NASDAQ.COM
- New Investment Disclosure: HoldCo Asset Management initiated a stake in BankUnited by acquiring 936,900 shares valued at approximately $35.75 million in Q3, reflecting confidence in the bank's future growth potential.
- Ownership Analysis: This acquisition positions HoldCo's stake in BankUnited at 3.77% of its $947.56 million in reportable U.S. equity assets, highlighting its significance within a diversified investment portfolio.
- Performance Stability: BankUnited reported a net income of $71.9 million for the latest quarter, translating to earnings of $0.95 per share, while its net interest margin expanded to 3.00%, showcasing stability amid market fluctuations.
- Enhanced Capital Strength: With a CET1 ratio of 12.5% and tangible book value rising 8% year-over-year to $39.27 per share, BankUnited solidifies its competitive position among regional banks.
Analyst Views on BKU
Wall Street analysts forecast BKU stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BKU is 42.17 USD with a low forecast of 40.00 USD and a high forecast of 44.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
2 Buy
4 Hold
0 Sell
Moderate Buy
Current: 44.620
Low
40.00
Averages
42.17
High
44.00
Current: 44.620
Low
40.00
Averages
42.17
High
44.00
About BKU
BankUnited, Inc. is a bank holding company of BankUnited (the Bank). The Bank provides a full range of commercial lending and both commercial and consumer deposit services through banking centers located in Florida, the New York metropolitan area and Dallas, Texas, and a comprehensive suite of wholesale products to customers through an Atlanta office focused on the Southeast region. The Bank’s lending products include commercial loans, commercial real estate loans, residential mortgages and other consumer loans. It offers traditional deposit products including commercial and consumer checking accounts, money market deposit accounts, savings accounts and certificates of deposit with a variety of terms and rates, as well as a robust suite of treasury, payments and cash management services. The Bank provides certain commercial lending and deposit products through national platforms and certain consumer deposit products through an online channel.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
