UPDATE: Keefe Bruyette & Woods Downgrades Capitol Federal Financial to Market Perform on Valuation

Keefe Bruyette & Woods reduced its rating on Capitol Federal Financial

from Outperform to Market Perform and lowered its price target from $13 to $12.50. Keefe Bruyette & Woods said, "A good defensive name, but upside potential is limited, in our view. With a tempered loan growth outlook and continued pressure on the margin given the low interest rate environment and residential mortgage dominated loan book, earnings growth is being supported by share buybacks and low credit expense. CFFN continues to be a good defensive name for investors during a time of market volatility given its low-risk balance sheet and high level of capital, in our view." Capitol Federal Financial closed at $12.21 on Thursday.