Zacks Investment Research upgraded shares of Franklin Financial Network (NYSE:FSB) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “
Several other research analysts also recently issued reports on the stock. ValuEngine raised shares of Franklin Financial Network from a hold rating to a buy rating in a research report on Saturday, October 21st. Compass Point reissued a buy rating and set a $43.00 price objective (down from $47.00) on shares of Franklin Financial Network in a research report on Friday, October 13th. Piper Jaffray Companies reissued a neutral rating and set a $39.00 price objective (down from $41.50) on shares of Franklin Financial Network in a research report on Thursday, October 5th. Finally, Stephens downgraded shares of Franklin Financial Network from an overweight rating to an equal weight rating and set a $38.00 price objective on the stock. in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Franklin Financial Network currently has an average rating of Hold and an average target price of $40.20.
Franklin Financial Network (NYSE:FSB) opened at $34.00 on Tuesday. Franklin Financial Network has a 52-week low of $30.30 and a 52-week high of $44.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.79 and a current ratio of 0.80. The stock has a market cap of $444.04, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.41.
Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. The company had revenue of $27.90 million for the quarter, compared to the consensus estimate of $30.97 million. equities analysts anticipate that Franklin Financial Network will post 2.49 earnings per share for the current fiscal year.
In other news, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $33.81, for a total value of $30,429.00. Following the completion of the sale, the insider now owns 14,149 shares in the company, valued at approximately $478,377.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.56% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FSB. Phocas Financial Corp. lifted its stake in shares of Franklin Financial Network by 314.4% in the 2nd quarter. Phocas Financial Corp. now owns 387,006 shares of the financial services provider’s stock worth $15,964,000 after acquiring an additional 293,607 shares during the period. Systematic Financial Management LP acquired a new stake in shares of Franklin Financial Network in the second quarter valued at about $3,690,000. EAM Investors LLC lifted its stake in shares of Franklin Financial Network by 220.7% in the second quarter. EAM Investors LLC now owns 120,605 shares of the financial services provider’s stock valued at $4,975,000 after purchasing an additional 83,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Franklin Financial Network by 56.0% in the third quarter. Dimensional Fund Advisors LP now owns 200,943 shares of the financial services provider’s stock valued at $7,164,000 after purchasing an additional 72,126 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Franklin Financial Network by 356.5% in the second quarter. New York State Common Retirement Fund now owns 88,920 shares of the financial services provider’s stock valued at $3,668,000 after purchasing an additional 69,443 shares during the period. Institutional investors own 54.91% of the company’s stock.
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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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