Hovde Group Downgrades BankUnited to Market Perform

Brokerage firm Hovde Group Downgrades its rating on BankUnited(NYSE:BKU). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Hovde Group was issued on Jul 21, 2016.

In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on BankUnited. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 29, 2016, Sandler O’Neill said it Upgrades its rating on BankUnited. The shares have been rated ‘Buy’ by the firm. On May 19, 2016, Goldman Sachs said it Downgrades its rating on BankUnited. The shares have been rated ‘Sell’ by the firm. On May 6, 2016, BMO Capital said it Downgrades its rating on BankUnited. The shares have been rated ‘Market Perform’ by the firm.

BankUnited (BKU) shares turned negative on Wednesdays trading session with the shares closing down -2.09 points or -6.38% at a volume of 50,77,037. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.24. The peak price level was also seen at $32.24 while the days lowest was $29.8. Finally the shares closed at $30.66. The 52-week high of the shares is $39.97 while the 52-week low is $27.85. According to the latest information available, the market cap of the company is $3,193 M.

BankUnited(BKU) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $230.04M. Analysts had an estimated revenue of $232.45M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Jeffrey Starr (Officer of Subsidiary) sold 7,991 shares at $34.73 per share price.Also, 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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