Farmers Capital Bank Corporation (FFKT) Upgraded to Strong-Buy at Zacks Investment Research
Farmers Capital Bank Corporation (NASDAQ:FFKT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $50.00 price target on the bank’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.64% from the stock’s current price.
According to Zacks, “FARMERS CAPITAL BANK CORP. is a bank holding company engaged in general banking business. “
A number of other equities research analysts have also recently issued reports on FFKT. ValuEngine upgraded Farmers Capital Bank Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $40.00 price objective on shares of Farmers Capital Bank Corporation in a research note on Tuesday, October 3rd.
Shares of Farmers Capital Bank Corporation (FFKT) traded up 0.46% during trading on Monday, hitting $44.00. 21,699 shares of the stock traded hands. The stock has a 50 day moving average price of $40.87 and a 200-day moving average price of $39.51. The stock has a market cap of $330.57 million, a price-to-earnings ratio of 22.51 and a beta of 0.85. Farmers Capital Bank Corporation has a 1-year low of $29.65 and a 1-year high of $44.65.
Farmers Capital Bank Corporation (NASDAQ:FFKT) last announced its quarterly earnings data on Wednesday, October 18th. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.12. Farmers Capital Bank Corporation had a return on equity of 8.77% and a net margin of 19.59%. The business had revenue of $19.72 million for the quarter, compared to analysts’ expectations of $19.42 million. Equities analysts forecast that Farmers Capital Bank Corporation will post $2.39 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Farmers Capital Bank Corporation (FFKT) Upgraded to Strong-Buy at Zacks Investment Research” was published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/23/farmers-capital-bank-corporation-ffkt-upgraded-to-strong-buy-at-zacks-investment-research.html.
In other news, CEO Lloyd C. Hillard, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $36.89 per share, for a total transaction of $36,890.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.09% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in Farmers Capital Bank Corporation by 41.6% during the 4th quarter. Renaissance Technologies LLC now owns 363,100 shares of the bank’s stock valued at $15,268,000 after buying an additional 106,600 shares in the last quarter. Wellington Management Group LLP grew its holdings in Farmers Capital Bank Corporation by 159.9% during the 1st quarter. Wellington Management Group LLP now owns 335,058 shares of the bank’s stock valued at $13,536,000 after buying an additional 206,144 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Farmers Capital Bank Corporation by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 321,626 shares of the bank’s stock valued at $12,399,000 after buying an additional 10,264 shares in the last quarter. Vanguard Group Inc. grew its holdings in Farmers Capital Bank Corporation by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 285,961 shares of the bank’s stock valued at $11,024,000 after buying an additional 5,269 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in Farmers Capital Bank Corporation by 1.5% during the 4th quarter. Brown Advisory Inc. now owns 254,216 shares of the bank’s stock valued at $10,691,000 after buying an additional 3,759 shares in the last quarter. 51.55% of the stock is owned by institutional investors and hedge funds.
About Farmers Capital Bank Corporation
Farmers Capital Bank Corporation is a bank holding company headquartered in Frankfort, Kentucky. Their bank affiliate United Bank & Capital Trust Company operates 34 banking locations in 21 communities throughout Central and Northern Kentucky.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Farmers Capital Bank Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmers Capital Bank Corporation and related companies with MarketBeat.com's FREE daily email newsletter.