Boston, MA 03/26/2014 (wallstreetpr) – Farmers Capital Bank Corp (NASDAQ:FFKT) will repurchase more than $10 million worth of its shares. The company announced the approval of its request to buy back 10,000 shares of its Series A preferred stock. According to the bank’s CEO Lloyd C. Hillard Jr., repurchasing the shares is a testament to the company’s strengthening financial position. More, repurchasing the shares will effectively lessen the bank’s financial impact given the recent hike in dividend rates. The repurchase program is expected to be completed in the second quarter of fiscal 2014 and the cost of buying back the shares has been estimated as $10.2 million. Farmers Capital Bank Corp (NASDAQ:FFKT) is a provider of banking and financial services, operating 36 locations in 23 communities. Shares of the bank holding company rose 6.98 percent to $23 during trading Tuesday, on a day when shares shifted hands between $21.82 and 26.98 on more than average volume.
Precision Drilling Corp (USA) (NYSE:PDS) witnessed its stock price target adjusted north at Scotiabank following a research note published Tuesday. The analysts raised their price view on the stock from $14.50 to $16. The new price target implies upside potential of more than 36 percent from the stock’s previous close. Scotiabank rates the stock as outperform. With eight equity-research firms having commented on the stock of late, Precision Drilling Corp (USA) (NYSE:PDS) carries consensus buy rating and average price target of $13.83. Shares of the company closed up 0.79 percent at $11.52, during previous session, on a day when the stock established a new 52-week high and shifted more than average volume.
Newfield Exploration Co. (NYSE:NFX) now carries consensus rating of hold following comments of 14 brokerage currently tracking the stock. The analysts have average $33.27 target price in the stock over the next 12 months. Looking at the prevailing price of the stock as of the previous closing (up 2.93 percent to $30.89), the average target price implies significant upside potential. Newfield Exploration Co. (NYSE:NFX) reported its last quarter financial results on February 25, beating earnings estimates but falling short of revenue expectation.
