BankUnited (BKU) is Downgraded by Sandler O’Neill to Hold

BankUnited (BKU) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Jul 21, 2016.

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 Upgraded by Sandler O’Neill to ” Buy” on Jun 29, 2016. BankUnited was Downgraded by Goldman to ” Sell” on May 19, 2016.

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.

BankUnited closed down -2.09 points or -6.38% at $30.66 with 50,77,037 shares getting traded on Wednesday. Post opening the session at $32.24, the shares hit an intraday low of $29.8 and an intraday high of $32.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 9, 2016, Jeffrey Starr (Officer of Subsidiary) sold 7,991 shares at $34.73 per share price. According to the SEC, on Feb 10, 2016, Eugene F Demark (director) sold 4,000 shares at $32.00 per share price. On Feb 4, 2016, Mark Bagnoli (Officer of Subsidiary) sold 1,000 shares at $32.50 per share price, according to the Form-4 filing with the securities and exchange commission.

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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