Marx has 5.5% stake in BankUnited Financial

By Lisa Kerner

Charlotte, N.C., April 19 - Investors led by Moses Marx reported beneficial ownership of 1,955,000 shares, or 5.5%, of BankUnited Financial Corp. in a schedule 13D filed with the Securities and Exchange Commission.

The investors acquired 1,033,385 shares of the company's stock between Feb. 28 and April 11 priced from $3.83 to $5.25 per share, the filing said.

Because BankUnited's class A common stock was trading at approximately 20% of book value, Marx felt the stock was undervalued.

According to the SEC filing, there was a short position in the class A common stock in excess of 50% of the public float of such shares. In addition, for 58 consecutive days through the date of the filing, the class A common stock has been listed on the "threshold securities list."

BankUnited is the holding company for BankUnited, FSB based in Coral Gables, Fla.

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