CF Bankshares assumed with an Overweight at Piper Sandler

Piper Sandler assumed coverage of CF Bankshares (CFBK) with an Overweight rating with a price target of $34, up from $29. The company’s turnaround story has been nothing short of impressive following its recapitalization in 2012, the firm says. Piper highlights CF’s above-peer organic balance sheet growth outlook, the net interest margin that should see modest expansion and drive further profitability improvement to at-least peer levels, and its relative discounted valuation.