Franklin Financial Network (FSB) Rating Increased to Hold at Zacks Investment Research
Franklin Financial Network (NYSE:FSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “
A number of other research analysts also recently issued reports on the stock. Stephens downgraded shares of Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 target price on the stock. in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Compass Point restated a “buy” rating and set a $43.00 target price (down from $47.00) on shares of Franklin Financial Network in a research report on Friday, October 13th. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $39.00 target price (down from $41.50) on shares of Franklin Financial Network in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $40.20.
Franklin Financial Network (NYSE:FSB) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. The company had revenue of $27.90 million for the quarter, compared to the consensus estimate of $30.97 million. equities research analysts anticipate that Franklin Financial Network will post 2.49 earnings per share for the current year.
In related news, insider David J. Mcdaniel sold 900 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $33.81, for a total value of $30,429.00. Following the sale, the insider now directly owns 14,149 shares in the company, valued at approximately $478,377.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.56% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Phocas Financial Corp. increased its stake in Franklin Financial Network by 314.4% during the 2nd quarter. Phocas Financial Corp. now owns 387,006 shares of the financial services provider’s stock worth $15,964,000 after purchasing an additional 293,607 shares in the last quarter. Systematic Financial Management LP bought a new stake in Franklin Financial Network during the 2nd quarter worth approximately $3,690,000. EAM Investors LLC increased its stake in Franklin Financial Network by 220.7% during the 2nd quarter. EAM Investors LLC now owns 120,605 shares of the financial services provider’s stock worth $4,975,000 after purchasing an additional 83,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Franklin Financial Network by 56.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 200,943 shares of the financial services provider’s stock worth $7,164,000 after purchasing an additional 72,126 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in Franklin Financial Network by 356.5% during the 2nd quarter. New York State Common Retirement Fund now owns 88,920 shares of the financial services provider’s stock worth $3,668,000 after purchasing an additional 69,443 shares in the last quarter. Institutional investors and hedge funds own 54.91% of the company’s stock.
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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.
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