BankUnited (BKU) is Downgraded by Hovde Group to Underperform, Lowers Price Target to $ 28

BankUnited (BKU) was Downgraded by Hovde Group to ” Underperform” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $30 . Earlier the firm had a rating of “Market Perform ” on the company shares. Hovde Group advised their investors in a research report released on Sep 1, 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 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 .

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 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.

In a different news, on Aug 1, 2016, Mark Bagnoli (Officer of Subsidiary) sold 2,000 shares at $30.11 per share price. According to the SEC, on Mar 9, 2016, Jeffrey Starr (Officer of Subsidiary) sold 7,991 shares at $34.73 per share price. On Feb 10, 2016, Eugene F Demark (director) sold 4,000 shares at $32.00 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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