Franklin Financial Network, Inc. (FSB) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Franklin Financial Network, Inc. (NYSE:FSB) by 65.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,635 shares of the financial services provider’s stock after buying an additional 35,961 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Franklin Financial Network worth $3,738,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Franklin Financial Network by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,837 shares of the financial services provider’s stock valued at $530,000 after buying an additional 33 shares in the last quarter. Northpointe Capital LLC increased its position in shares of Franklin Financial Network by 6.9% in the second quarter. Northpointe Capital LLC now owns 452,585 shares of the financial services provider’s stock valued at $18,669,000 after buying an additional 29,088 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of Franklin Financial Network in the second quarter valued at $392,000. Rhumbline Advisers increased its position in shares of Franklin Financial Network by 13.2% in the second quarter. Rhumbline Advisers now owns 13,237 shares of the financial services provider’s stock valued at $546,000 after buying an additional 1,545 shares in the last quarter. Finally, Monarch Partners Asset Management LLC increased its position in shares of Franklin Financial Network by 1.6% in the second quarter. Monarch Partners Asset Management LLC now owns 164,842 shares of the financial services provider’s stock valued at $6,800,000 after buying an additional 2,580 shares in the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Franklin Financial Network, Inc. (NYSE FSB) opened at 34.95 on Friday. Franklin Financial Network, Inc. has a 12 month low of $29.85 and a 12 month high of $42.80. The stock has a market cap of $460.75 million, a PE ratio of 14.43 and a beta of 1.48. The stock has a 50 day moving average price of $34.60 and a 200-day moving average price of $34.60.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). The firm had revenue of $28.35 million during the quarter, compared to analyst estimates of $30.63 million. Franklin Financial Network had a net margin of 23.50% and a return on equity of 11.80%. On average, analysts expect that Franklin Financial Network, Inc. will post $2.53 EPS for the current year.

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A number of research analysts have recently weighed in on FSB shares. BidaskClub cut Franklin Financial Network from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded Franklin Financial Network from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Stephens cut Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research report on Tuesday, October 3rd. ValuEngine cut Franklin Financial Network from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies cut Franklin Financial Network from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $41.00 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Franklin Financial Network currently has an average rating of “Hold” and a consensus price target of $39.50.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals.

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Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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