Acadian Asset Management LLC purchased a new position in Franklin Financial Network Inc (NYSE:FSB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,850 shares of the financial services provider’s stock, valued at approximately $107,000.

A number of other hedge funds have also modified their holdings of FSB. Municipal Employees Retirement System of Michigan purchased a new stake in Franklin Financial Network in the 2nd quarter worth $128,000. State of Alaska Department of Revenue purchased a new stake in Franklin Financial Network in the 2nd quarter worth $148,000. MetLife Investment Advisors LLC purchased a new stake in Franklin Financial Network in the 4th quarter worth $168,000. Louisiana State Employees Retirement System purchased a new stake in Franklin Financial Network in the 2nd quarter worth $203,000. Finally, Creative Planning purchased a new stake in Franklin Financial Network in the 2nd quarter worth $209,000. Institutional investors and hedge funds own 53.31% of the company’s stock.

In other Franklin Financial Network news, insider Kevin A. Herrington sold 1,400 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $38.81, for a total transaction of $54,334.00. Following the completion of the transaction, the insider now owns 20,669 shares of the company’s stock, valued at approximately $802,163.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Iv Cross sold 3,960 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $36.36, for a total transaction of $143,985.60. Following the transaction, the director now directly owns 31,080 shares of the company’s stock, valued at approximately $1,130,068.80. The disclosure for this sale can be found here. Insiders have sold a total of 14,107 shares of company stock valued at $534,849 in the last three months. Insiders own 11.40% of the company’s stock.

FSB has been the subject of a number of analyst reports. Zacks Investment Research upgraded Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine lowered Franklin Financial Network from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Compass Point lowered Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 price target for the company. in a research note on Tuesday, June 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $39.00 price target on shares of Franklin Financial Network in a research note on Monday, July 30th. Finally, Stephens reiterated a “hold” rating and issued a $39.00 price target on shares of Franklin Financial Network in a research note on Thursday, July 26th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.80.

FSB opened at $39.25 on Monday. Franklin Financial Network Inc has a 52 week low of $30.30 and a 52 week high of $40.30. The stock has a market cap of $549.80 million, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.37 and a beta of 1.10. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.23.

Franklin Financial Network (NYSE:FSB) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.64 by $0.07. Franklin Financial Network had a net margin of 19.27% and a return on equity of 12.24%. The business had revenue of $31.05 million during the quarter, compared to the consensus estimate of $29.65 million. sell-side analysts forecast that Franklin Financial Network Inc will post 2.8 EPS for the current fiscal year.

About Franklin Financial Network

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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Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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