Keefe Bruyette Downgrades Capitol Federal Financial (CFFN) to Underperform
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Keefe Bruyette & Woods downgrades Capitol Federal Financial (Nasdaq: CFFN) from Market Perform to Underperform, citing valuation. The firm lowers its price target on CFFN from $33 to $30.
The firm has noticed no change in "the bank's outlook, either fundamentally or structurally", but has seen its shares trend higher recently (up 30% YTD). Therefore, Keefe Bruyette believes shares of Capitol Federal have become overvalued.
Capitol Federal Financial operates as the holding company for Capitol Federal Savings Bank, which provides various banking services in Kansas. [BCS]
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