NEW YORK (TheStreet) -- Shares of BankUnited (BKU) are falling 7.91% to $30.16 on heavy trading volume late Wednesday morning even though the bank holding company reported earnings and revenue that exceeded analysts' expectations.
Before today's market open, the Miami Lakes, FL-based company posted earnings of 52 cents per diluted share, topping analysts' projections by a penny.
Revenue for the period was $243.2 million, above Wall Street's forecasts of $241.1 million.
Quarterly net interest margin, calculated on a tax-equivalent basis, was 3.75% compared to 3.95% last year.
"Despite significant headwinds facing our industry, BankUnited has turned in another excellent quarter," CEO John Kanas said in a statement.
About 1.59 million of the company's shares changed hands so far today vs. its average 30-day volume of 1.09 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and good cash flow from operations.
But the team also finds that the stock has had a generally disappointing performance in the past year.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BKU