Italy's BFF Bank falls as DB cuts to "hold"

BFF Bank SpA

10/12/2025 11:09

** Shares in BFF BFF.MI fall 7% after Deutsche Bank cut its rating for the Italian bank to "hold" from "buy"

** The brokerage says it sees limited future upside potential after revising its 2025-2028 earning estimates down by 12%

** DB says that based on recent results, projections for the 2026 run-rate are "well below" the 200 million euros ($233 million) consensus

** It says BFF profitability is showing a "lack of momentum", with recent net income movements mainly coming from non-recurring items

** Q3 net income of 37 million euros included a 12 million euros gain from asset disposal, DB notes

** It forecasts a 6.5% dividend payout, which, although "appealing", no longer puts BFF as an outlier within Italian financials

** BFF is on track to have its worst day performance since April 4

** Out of 9 analysts that cover BFF Bank, six rate the stock "strong buy" or "buy,"​ two rate it "hold" and one "sell" - LSEG data

($1 = 0.8594 euros)

 (Reporting by Mirko Miorelli)

 ((Mirko.miorelli@thomsonreuters.com))