Jefferies cuts BFF Bank to 'hold' on no-dividend plan

BFF Bank SpA

12/02/2026 07:57

** Jefferies cuts its rating for Italy's BFF Bank BFF.MI to "hold" from "buy" after the firm reaffirmed its plans to not pay any 2025 dividend, despite having a 14.1% CET 1 ratio

   ** It also cut its PT by around 63% to 4.45 euros/shr, after the stock slumped more than 44% on February 2

   ** The brokerage says that the bank's total past due exposure, remaining over 1.6 billion euros ($1.90 billion), requires prompt action

  ** Jefferies cuts its profit before taxes (PBT) and earnings per share (EPS) 2026 estimates for the Italian bank by 17%

  ** BFF reported its FY results on February 10 after market closure, and its shares fell by 9.3 the following day

   ** Out of 8 analysts that cover BFF Bank, ​one rates the stock "buy",​​ six rate "hold" and one rates the stock "sell" - LSEG data

($1 = 0.8428 euros)

 (Reporting by Mirko Miorelli)

 ((Mirko.miorelli@thomsonreuters.com))