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Fly News Breaks for July 10, 2017
BKU
Jul 10, 2017 | 09:02 EDT
BofA/Merrill analyst Ebrahim Poonawala said BankUnited shares have underperformed year-to-date due to NIM concerns and said Street estimates reflect skepticism on loan and deposit growth. The analyst said reduced expectations combined with trough valuation provide favorable risk/reward heading into Q2 results which should serve as a positive catalyst and reduce investor concerns around margin and increasing funding costs. Further, a rebound in loan growth could demonstrate BankUnited can deliver above average loan growth without relying on the multifamily-RE segment. Poonawala also views BankUnited as an M&A target given its attractive Florida franchise, loan origination capabilities, and a willing management. The analyst rates BankUnited a Buy.
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