BankUnited volatility elevated into Q4 BankUnited overall option implied volatility of 23 is above its 26-week average of 21 according to Track Data, suggesting large price movement into the expected release of Q4 on January 23.
Valley National upgraded to Neutral from Underweight at JPMorgan JPMorgan upgraded Valley National (VLY) to Neutral saying interest rates being "low for long" could drive bank stocks above fair value at least over the short-term. The firm raised its price target for Valley to $11 from $9.50. JPMorgan also upgraded BankUnited (BKU) this morning to Overweight. Its top picks in the U.S. Mid- and Small-Cap Banks space are SVB Financial (SIVB), KeyCorp (KEY) and First Republic (FRC).