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Bank of Kentucky Financial Corp. (NASDAQ:BKYF) was downgraded by equities researchers at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued on Monday, reports. They currently have a $36.00 price target on the stock, up from their previous price target of $35.00. DA Davidson’s target price points to a potential upside of 6.41% from the stock’s previous close.

The analysts wrote, “We are reducing our rating of Bank of Kentucky to NEUTRAL from Buy based on valuation. We note that our rating change does not suggest a change in our outlook on the bank. In fact, we believe fundamentals remain exceptionally good. BKYF has competed exceptionally well with the regional and super regional banks in the Cincinnati area through a highly skilled commercial lending team with experience at the larger banks. During periods of slow economic growth, loan growth has the potential to be choppy quarter to quarter; however, the bank has demonstrated the wherewithal to generate loan growth in the low double digits. Despite the bank’s relative small size, profitability has been better than its larger peers due to a history of low credit costs. We note that 3Q13 ROA increased to 1.22% and the ROTE increased to 14.6%.”

Bank of Kentucky Financial Corp. (NASDAQ:BKYF) opened at 33.83 on Monday. Bank of Kentucky Financial Corp. has a 52 week low of $24.27 and a 52 week high of $34.24. The stock’s 50-day moving average is $30.22 and its 200-day moving average is $28.10. The company has a market cap of $254.7 million and a P/E ratio of 13.54.

The Bank of Kentucky Financial Corporation (NASDAQ:BKYF) is a bank holding company.

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