Franklin Financial Services Corp. $FRAF Holdings Decreased by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA trimmed its holdings in shares of Franklin Financial Services Corp. (NASDAQ:FRAF) by 94.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,134 shares of the company’s stock after selling 18,579 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Franklin Financial Services were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in Franklin Financial Services during the 1st quarter valued at about $133,000. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Financial Services in the first quarter worth approximately $571,000. Empowered Funds LLC lifted its position in shares of Franklin Financial Services by 3.7% in the first quarter. Empowered Funds LLC now owns 33,474 shares of the company’s stock worth $1,187,000 after purchasing an additional 1,202 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Franklin Financial Services during the first quarter worth approximately $529,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Franklin Financial Services by 109.8% during the second quarter. Geode Capital Management LLC now owns 98,224 shares of the company’s stock worth $3,401,000 after purchasing an additional 51,407 shares during the period. 24.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Hovde Group downgraded shares of Franklin Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 10th. Wall Street Zen downgraded shares of Franklin Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Franklin Financial Services in a research note on Monday, April 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Franklin Financial Services currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Insider Buying and Selling

In other Franklin Financial Services news, EVP Steven D. Butz sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $57.73, for a total value of $80,822.00. Following the completion of the sale, the executive vice president directly owned 5,610 shares of the company’s stock, valued at $323,865.30. The trade was a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.93% of the stock is owned by corporate insiders.

Franklin Financial Services Stock Down 1.2%

FRAF opened at $60.98 on Thursday. The company has a market capitalization of $273.80 million, a PE ratio of 11.42 and a beta of -0.02. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Franklin Financial Services Corp. has a fifty-two week low of $37.69 and a fifty-two week high of $64.88. The business has a 50-day moving average of $59.28 and a 200-day moving average of $54.28.

Franklin Financial Services (NASDAQ:FRAF) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.34 by $0.14. Franklin Financial Services had a return on equity of 14.13% and a net margin of 17.73%.The business had revenue of $23.88 million during the quarter, compared to analysts’ expectations of $23.30 million.

About Franklin Financial Services

Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.‐listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.