Steven Butz Sells 1,400 Shares of Franklin Financial Services (NASDAQ:FRAF) Stock

Franklin Financial Services Corp. (NASDAQ:FRAF) EVP Steven Butz sold 1,400 shares of the firm’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 transaction of $80,822.00. Following the completion of the sale, the executive vice president directly owned 5,610 shares in the company, valued at approximately $323,865.30. This trade represents a 19.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Franklin Financial Services Stock Down 3.6%

NASDAQ:FRAF traded down $2.11 during mid-day trading on Monday, hitting $56.03. The stock had a trading volume of 5,970 shares, compared to its average volume of 40,982. The stock has a 50-day simple moving average of $55.25 and a two-hundred day simple moving average of $52.59. The company has a market capitalization of $251.55 million and a PE ratio of 10.49. Franklin Financial Services Corp. has a twelve month low of $33.44 and a twelve month high of $60.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12.

Franklin Financial Services (NASDAQ:FRAF) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.14. Franklin Financial Services had a net margin of 17.73% and a return on equity of 14.13%. The company had revenue of $23.88 million for the quarter, compared to analysts’ expectations of $23.30 million.

Franklin Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 1st. This is an increase from Franklin Financial Services’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. Franklin Financial Services’s dividend payout ratio is 25.47%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Hovde Group raised their price objective on shares of Franklin Financial Services from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Franklin Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Franklin Financial Services in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $64.00.

Hedge Funds Weigh In On Franklin Financial Services

A number of institutional investors have recently modified their holdings of FRAF. Russell Investments Group Ltd. increased its holdings in shares of Franklin Financial Services by 69.2% in the 4th quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock valued at $43,000 after acquiring an additional 353 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Franklin Financial Services by 84.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock valued at $44,000 after acquiring an additional 434 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Franklin Financial Services in the 3rd quarter valued at $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Franklin Financial Services in the 2nd quarter valued at $79,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Franklin Financial Services in the 2nd quarter valued at $100,000. 24.80% of the stock is owned by institutional investors and hedge funds.

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.