Wells Fargo Maintains Equal-Weight Rating for BankUnited: Here's What You Need To Know

Wells Fargo has decided to maintain its Equal-Weight rating of BankUnited BKU and lower its price target from $38.00 to $30.00.

Shares of BankUnited are trading down 4.44% over the last 24 hours, at $20.64 per share.

A move to $30.00 would account for a 45.35% increase from the current share price.

About BankUnited

BankUnited Inc is a bank holding company with one wholly owned subsidiary, BankUnited. The bank provides a full range of banking services through banking centers located primarily throughout Florida, as well as New York City. BankUnited is a commercially focused regional bank focusing on small and middle-market businesses, but also provides certain commercial lending and deposit products on a national platform. It has historically grown through organic growth. BankUnited was established by a group of investors who acquired the assets and most of the liabilities of its predecessor from the Federal Deposit Insurance Corporation. The group recapitalized BankUnited with an investment of over $900 million. most of its revenue comprises net interest income derived mostly from loans.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.