Acrospire Investment Management LLC increased its position in Franklin Financial Network Inc. (NYSE:FSB) by 103.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,546 shares of the financial services provider’s stock after buying an additional 1,800 shares during the period. Acrospire Investment Management LLC’s holdings in Franklin Financial Network were worth $111,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can purchased a new position in Franklin Financial Network during the second quarter worth about $10,020,000. Emerald Mutual Fund Advisers Trust boosted its position in Franklin Financial Network by 16.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 170,772 shares of the financial services provider’s stock worth $5,355,000 after buying an additional 24,690 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Franklin Financial Network by 140.5% in the first quarter. JPMorgan Chase & Co. now owns 150,300 shares of the financial services provider’s stock worth $4,059,000 after buying an additional 87,800 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Franklin Financial Network by 32.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 89,757 shares of the financial services provider’s stock worth $2,423,000 after buying an additional 21,816 shares during the last quarter. Finally, State Street Corp boosted its position in Franklin Financial Network by 10.3% in the first quarter. State Street Corp now owns 69,846 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 6,547 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

Shares of Franklin Financial Network Inc. (NYSE:FSB) traded down 0.22% during trading on Monday, hitting $36.82. 14,149 shares of the company traded hands. The company has a market capitalization of $394.05 million, a price-to-earnings ratio of 17.83 and a beta of 1.45. The company has a 50 day moving average price of $33.91 and a 200 day moving average price of $30.71. Franklin Financial Network Inc. has a 52 week low of $21.79 and a 52 week high of $37.79.

Franklin Financial Network (NYSE:FSB) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.04. Franklin Financial Network had a net margin of 22.88% and a return on equity of 12.25%. On average, analysts expect that Franklin Financial Network Inc. will post $2.55 earnings per share for the current year.

A number of equities analysts have issued reports on FSB shares. Zacks Investment Research upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, August 1st. Raymond James Financial Inc. initiated coverage on shares of Franklin Financial Network in a research report on Tuesday, September 6th. They set an “outperform” rating and a $40.00 price target on the stock. Bank of America Corp. cut shares of Franklin Financial Network from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Finally, Compass Point boosted their price target on shares of Franklin Financial Network from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th.

In other news, Director Jimmy E. Allen sold 2,500 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $33.90, for a total transaction of $84,750.00. Following the sale, the director now owns 114,374 shares of the company’s stock, valued at $3,877,278.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jimmy E. Allen sold 5,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the sale, the director now directly owns 109,374 shares in the company, valued at approximately $3,828,090. The disclosure for this sale can be found here. 12.36% of the stock is currently owned by company insiders.

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.

5 Day Chart for NYSE:FSB

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