Farmers Capital Bank Corp. (FFKT) Coverage Initiated by Analysts at Sandler O’Neill
Sandler O’Neill started coverage on shares of Farmers Capital Bank Corp. (NASDAQ:FFKT) in a research report released on Friday. The brokerage issued a buy rating and a $35.00 price target on the stock.
Separately, Zacks Investment Research upgraded Farmers Capital Bank Corp. from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Friday, July 15th.
Farmers Capital Bank Corp. (NASDAQ:FFKT) traded up 0.80% during mid-day trading on Friday, reaching $31.55. 4,863 shares of the company’s stock were exchanged. Farmers Capital Bank Corp. has a 52 week low of $24.65 and a 52 week high of $31.62. The company’s 50 day moving average price is $30.08 and its 200-day moving average price is $28.42. The company has a market capitalization of $236.78 million, a P/E ratio of 13.80 and a beta of 0.51.
Farmers Capital Bank Corp. (NASDAQ:FFKT) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. Farmers Capital Bank Corp. had a net margin of 19.73% and a return on equity of 9.50%. On average, equities research analysts expect that Farmers Capital Bank Corp. will post $2.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 1st were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Tuesday, August 30th. Farmers Capital Bank Corp.’s payout ratio is currently 12.28%.
In other news, Director John C. Roach bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was acquired at an average price of $29.00 per share, for a total transaction of $29,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.
Several hedge funds have recently modified their holdings of FFKT. Acrospire Investment Management LLC purchased a new stake in shares of Farmers Capital Bank Corp. during the first quarter worth about $110,000. Geode Capital Management LLC boosted its stake in shares of Farmers Capital Bank Corp. by 4.7% in the first quarter. Geode Capital Management LLC now owns 48,205 shares of the company’s stock worth $1,273,000 after buying an additional 2,166 shares during the last quarter. State Street Corp boosted its stake in shares of Farmers Capital Bank Corp. by 11.4% in the first quarter. State Street Corp now owns 84,472 shares of the company’s stock worth $2,232,000 after buying an additional 8,664 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Farmers Capital Bank Corp. by 9.3% in the second quarter. Brown Advisory Inc. now owns 249,920 shares of the company’s stock worth $6,835,000 after buying an additional 21,216 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in Farmers Capital Bank Corp. during the second quarter worth $299,000. Institutional investors and hedge funds own 46.91% of the company’s stock.
About Farmers Capital Bank Corp.
Farmers Capital Bank Corporation is a bank holding company. The Company provides a range of banking and bank-related services to customers throughout Central and Northern Kentucky. The Company’s bank subsidiaries include Farmers Bank & Capital Trust Company, United Bank & Trust Company, First Citizens Bank and Citizens Bank of Northern Kentucky, Inc The Company also owns FCB Services, Inc, a data processing subsidiary, and FFKT Insurance Services, Inc, a captive property and casualty insurance company.
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