UPDATE: JPMorgan Downgrades BankUnited (BKU) to Underweight

JPMorgan analyst Steven Alexopoulos downgraded BankUnited (NYSE: BKU) from Neutral to Underweight with a price target of $43.00 (from $50.00).

The analyst comments "BKU shares trade at 9.9x 2023e EPS, or a 12% premium to regional bank peers. With a less asset sensitive balance sheet than peers and loan growth expected to be in line with peers, we expect BankUnited’s earnings growth potential as being at or below peers through 2023. Combined with a steep premium valuation, downgrade to Underweight."

For an analyst ratings summary and ratings history on BankUnited click here. For more ratings news on BankUnited click here.

Shares of BankUnited closed at $40.68 yesterday.

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