Barclays analyst Matthew Keating double downgraded BankUnited to Underweight from Overweight with an unchanged price target of $37. The company recently unveiled BankUnited 2.0, a two-year initiative designed to improve its customer and employee experience and drive operational excellence, Keating tells investors in a research note. With the profitability improvement plan detailed, its benefits are now in expectations, says the analyst. Further, he believes that with competitive pressures on BankUnited's loan and deposit pricing persisting, its net interest margin is unlikely to expand near-term absent a steepening in the yield curve. Keating expects more modest loan growth the rest of the year and with little upside to his price target, he double downgrades the stock.