Farmers Capital Bank Corp. (FFKT) Earns Buy Rating from 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 morning. The brokerage issued a buy rating and a $35.00 price target on the stock.
Separately, Zacks Investment Research raised shares of Farmers Capital Bank Corp. from a hold rating to a buy rating and set a $34.00 target price on the stock in a research report on Friday, July 15th.
Shares of Farmers Capital Bank Corp. (NASDAQ:FFKT) opened at 31.54 on Friday. The stock has a market capitalization of $236.71 million, a P/E ratio of 13.79 and a beta of 0.50. Farmers Capital Bank Corp. has a 12 month low of $24.65 and a 12 month high of $31.85. The firm has a 50 day moving average of $30.20 and a 200-day moving average of $28.51.
Farmers Capital Bank Corp. (NASDAQ:FFKT) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates 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%. Analysts forecast that Farmers Capital Bank Corp. will post $2.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 1st were given a $0.07 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.89%. Farmers Capital Bank Corp.’s dividend payout ratio is presently 12.28%.
In related news, Director John C. Roach bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were acquired at an average cost of $29.00 per share, with a total value of $29,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Castine Capital Management LLC boosted its stake in Farmers Capital Bank Corp. by 33.4% in the second quarter. Castine Capital Management LLC now owns 166,689 shares of the company’s stock valued at $4,559,000 after buying an additional 41,689 shares in the last quarter. Brown Advisory Inc. boosted its position 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 period. Bridgeway Capital Management Inc. boosted its position in shares of Farmers Capital Bank Corp. by 14.8% in the second quarter. Bridgeway Capital Management Inc. now owns 130,749 shares of the company’s stock worth $3,576,000 after buying an additional 16,900 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Farmers Capital Bank Corp. during the second quarter worth $299,000. Finally, Analytic Investors LLC acquired a new position in shares of Farmers Capital Bank Corp. during the second quarter worth $253,000. 46.91% of the stock is currently owned by institutional investors and hedge funds.
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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