Spindletop Capital Lowers stake in BankUnited (BKU)

BankUnited (BKU) : Spindletop Capital reduced its stake in BankUnited by 71.95% during the most recent quarter end. The investment management company now holds a total of 115,000 shares of BankUnited which is valued at $3,413,200 after selling 295,000 shares in BankUnited , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.BankUnited makes up approximately 5.05% of Spindletop Capital’s portfolio.

Other Hedge Funds, Including , Kennedy Capital Management reduced its stake in BKU by selling 26,135 shares or 3.44% in the most recent quarter. The Hedge Fund company now holds 734,325 shares of BKU which is valued at $21,794,766. BankUnited makes up approx 0.42% of Kennedy Capital Management’s portfolio.Blackrock Group Ltd boosted its stake in BKU in the latest quarter, The investment management firm added 68,093 additional shares and now holds a total of 400,976 shares of BankUnited which is valued at $11,900,968. BankUnited makes up approx 0.01% of Blackrock Group Ltd’s portfolio.Vanguard Group Inc boosted its stake in BKU in the latest quarter, The investment management firm added 532,214 additional shares and now holds a total of 7,394,717 shares of BankUnited which is valued at $219,475,201. BankUnited makes up approx 0.01% of Vanguard Group Inc’s portfolio. Mesirow Financial Investment Management – Equity Management added BKU to its portfolio by purchasing 574,430 company shares during the most recent quarter which is valued at $17,112,270. BankUnited makes up approx 0.97% of Mesirow Financial Investment Management – Equity Management’s portfolio.

BankUnited opened for trading at $31.4 and hit $31.825 on the upside on Monday, eventually ending the session at $31.71, with a gain of 1.21% or 0.38 points. The heightened volatility saw the trading volume jump to 7,24,770 shares. Company has a market cap of $3,303 M.

On the company’s financial health, BankUnited reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.51.Analysts expectations of $ 240.27.During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on BankUnited. Shares were Reiterated by RBC Capital Mkts on Jul 21, 2016 to “Outperform” and Lowered the Price Target to $ 37 from a previous price target of $39 .BankUnited was Downgraded by Sandler O’Neill to ” Hold” on Jul 21, 2016. Shares were Downgraded by Hovde Group on Jul 21, 2016 to ” Market Perform” and Lowered the Price Target to $ 30 from a previous price target of $33 .

BankUnited Inc. is a bank holding company with one wholly owned subsidiary BankUnited National Association collectively the Company. BankUnited provides banking services to individual and corporate customers through 100 branches located in approximately 15 Florida counties and around six banking centers in the New York metropolitan area. The Company’s lending focus is to serve commercial and middle-market businesses their executives and consumers with financial products and services. It offers lending products such as small business loans commercial real estate loans equipment loans and leases term loans formula-based loans municipal loans and leases commercial lines of credit letters of credit residential mortgages and consumer loans. BankUnited offers deposit products including checking accounts money market deposit accounts savings accounts and certificates of deposit with various terms and rates.

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