Wells Fargo Starts BankUnited (BKU) at Outperform; Florida Sunshine Meets New York Skyline
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Price: $48.34 +1.07%
Rating Summary:
13 Buy, 11 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
13 Buy, 11 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on BankUnited (NYSE: BKU) with an Outperform. PT range $25-$27.
Wells analyst says, "Our 2011 and 2012 EPS estimates are $0.52 and $1.50, respectively. We believe BankUnited is a vehicle for growth amid tepid prospects across the banking industry. We are positive on the shares, due to a continuation of loan growth acceleration and the bank's expected entry into the New York market. Furthermore, we view BKU as a less risky name in the current uncertain environment. A majority of loans are shielded from sizeable credit risk via a favorable FDIC loss share agreement. BankUnited, Inc., headquartered in Miami Lakes, Florida, and established in May 2009, is the reincarnation of a failed bank under the same BankUnited name. The new BankUnited is led by John Kanas, former CEO of North Fork Bank."
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 $23.15 yesterday.
Wells analyst says, "Our 2011 and 2012 EPS estimates are $0.52 and $1.50, respectively. We believe BankUnited is a vehicle for growth amid tepid prospects across the banking industry. We are positive on the shares, due to a continuation of loan growth acceleration and the bank's expected entry into the New York market. Furthermore, we view BKU as a less risky name in the current uncertain environment. A majority of loans are shielded from sizeable credit risk via a favorable FDIC loss share agreement. BankUnited, Inc., headquartered in Miami Lakes, Florida, and established in May 2009, is the reincarnation of a failed bank under the same BankUnited name. The new BankUnited is led by John Kanas, former CEO of North Fork Bank."
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 $23.15 yesterday.
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