Foundry Partners LLC lessened its holdings in Franklin Financial Network Inc (NYSE:FSB) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,645 shares of the financial services provider’s stock after selling 6,155 shares during the period. Foundry Partners LLC owned approximately 1.37% of Franklin Financial Network worth $7,767,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Swiss National Bank lifted its stake in Franklin Financial Network by 14.2% in the second quarter. Swiss National Bank now owns 24,900 shares of the financial services provider’s stock worth $936,000 after acquiring an additional 3,100 shares during the period. First Trust Advisors LP lifted its position in shares of Franklin Financial Network by 15.7% during the second quarter. First Trust Advisors LP now owns 13,684 shares of the financial services provider’s stock valued at $515,000 after buying an additional 1,860 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Franklin Financial Network by 123.7% during the second quarter. Bank of New York Mellon Corp now owns 149,490 shares of the financial services provider’s stock valued at $5,621,000 after buying an additional 82,657 shares during the last quarter. Alps Advisors Inc. purchased a new stake in shares of Franklin Financial Network during the second quarter valued at about $472,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Franklin Financial Network during the second quarter valued at about $106,000. Institutional investors own 64.13% of the company’s stock.
In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $38.87, for a total value of $34,983.00. Following the transaction, the insider now owns 15,421 shares in the company, valued at approximately $599,414.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sarah L. Meyerrose sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $38.50, for a total value of $77,000.00. Following the completion of the transaction, the chief financial officer now owns 7,255 shares in the company, valued at approximately $279,317.50. The disclosure for this sale can be found here. Company insiders own 10.56% of the company’s stock.
Shares of NYSE FSB traded down $0.59 during midday trading on Friday, reaching $34.02. 46,574 shares of the stock were exchanged, compared to its average volume of 89,384. Franklin Financial Network Inc has a twelve month low of $30.80 and a twelve month high of $41.50. The stock has a market capitalization of $488.23 million, a price-to-earnings ratio of 14.06 and a beta of 1.19. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.80 and a quick ratio of 0.80.
Franklin Financial Network (NYSE:FSB) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Franklin Financial Network had a return on equity of 11.85% and a net margin of 19.13%. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $31.30 million. Analysts anticipate that Franklin Financial Network Inc will post 2.76 earnings per share for the current fiscal year.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, August 1st. Piper Jaffray Companies set a $39.00 price objective on shares of Franklin Financial Network and gave the company a “hold” rating in a report on Sunday, July 29th. Compass Point upgraded shares of Franklin Financial Network from a “sell” rating to a “neutral” rating in a report on Thursday, July 26th. Stephens restated a “hold” rating and set a $39.00 price objective on shares of Franklin Financial Network in a report on Thursday, July 26th. Finally, ValuEngine downgraded shares of Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Franklin Financial Network has a consensus rating of “Hold” and a consensus target price of $38.40.
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Franklin Financial Network Profile
Franklin Financial Network, Inc operates as the holding company for Franklin Synergy Bank that provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals. The company's deposit products include demand, interest-bearing transaction accounts, money market accounts, certificates of deposit, municipal deposits, savings, and deposit accounts.
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