BankUnited (BKU) Appreciated with the Sector in Q4

Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 9.52% net of fees (9.67% gross of fees) trailing the Russell 2500 Index’s 13.35% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Small/Mid Cap Equity Strategy featured stocks such as BankUnited, Inc. (NYSE:BKU) in its Q4 2023 investor letter. Headquartered in Miami Lakes, Florida, BankUnited, Inc. (NYSE:BKU) is a bank holding company for BankUnited that provides a range of banking services. On January 16, 2024, BankUnited, Inc. (NYSE:BKU) stock closed at $29.14 per share. One-month return of BankUnited, Inc. (NYSE:BKU) was -9.16%, and its shares lost 17.26% of their value over the last 52 weeks. BankUnited, Inc. (NYSE:BKU) has a market capitalization of $2.167 billion.

Aristotle Small/Mid Cap Equity Strategy stated the following regarding BankUnited, Inc. (NYSE:BKU) in its fourth quarter 2023 investor letter:

“BankUnited, Inc. (NYSE:BKU), a bank holding company that provides commercial and consumer banking services in select regions nationally, appreciated alongside the broader regional banking sector during the quarter as deposits continued to stabilize, net interest margins expanded, and credit trends remained relatively strong. We maintain our investment given the company’s favorable geographic footprint, expansion into new markets, and improving underlying fundamentals.”

A man in a suit and tie, placing a deposit in a bank and smiling confidentally.

BankUnited, Inc. (NYSE:BKU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held BankUnited, Inc. (NYSE:BKU) at the end of third quarter which was 22 in the previous quarter.

We discussed BankUnited, Inc. (NYSE:BKU) in another article and shared Aristotle Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.