CapWealth Advisors LLC boosted its holdings in Franklin Financial Network Inc (NYSE:FSB) by 50.6% during the second quarter, Holdings Channel reports. The institutional investor owned 14,725 shares of the financial services provider’s stock after buying an additional 4,950 shares during the period. CapWealth Advisors LLC’s holdings in Franklin Financial Network were worth $554,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Franklin Financial Network in the 2nd quarter worth about $105,000. Piedmont Investment Advisors LLC acquired a new stake in Franklin Financial Network in the 2nd quarter worth about $106,000. Acadian Asset Management LLC acquired a new stake in Franklin Financial Network in the 2nd quarter worth about $107,000. Municipal Employees Retirement System of Michigan acquired a new stake in Franklin Financial Network in the 2nd quarter worth about $128,000. Finally, State of Alaska Department of Revenue acquired a new stake in Franklin Financial Network in the 2nd quarter worth about $148,000. 64.31% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on FSB shares. ValuEngine raised Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Stephens reissued a “hold” rating and issued a $39.00 price target on shares of Franklin Financial Network in a research note on Thursday, July 26th. Piper Jaffray Companies set a $39.00 price target on Franklin Financial Network and gave the stock a “hold” rating in a research note on Sunday, July 29th. Compass Point lowered Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 price target on the stock. in a research note on Tuesday, June 12th. Finally, Zacks Investment Research lowered Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $39.80.

In other news, insider Kevin A. Herrington sold 1,400 shares of Franklin Financial Network stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $38.81, for a total value of $54,334.00. Following the transaction, the insider now directly owns 20,669 shares of the company’s stock, valued at approximately $802,163.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sarah L. Meyerrose sold 876 shares of Franklin Financial Network stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $39.15, for a total value of $34,295.40. Following the completion of the transaction, the chief financial officer now directly owns 9,255 shares in the company, valued at $362,333.25. The disclosure for this sale can be found here. Insiders sold a total of 5,176 shares of company stock worth $200,612 over the last ninety days. Corporate insiders own 10.56% of the company’s stock.

NYSE FSB opened at $40.40 on Friday. The stock has a market capitalization of $579.51 million, a PE ratio of 16.69, a PEG ratio of 1.42 and a beta of 1.06. Franklin Financial Network Inc has a 1-year low of $30.80 and a 1-year high of $40.40. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

Franklin Financial Network (NYSE:FSB) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.07. The business had revenue of $31.05 million for the quarter, compared to analyst estimates of $29.65 million. Franklin Financial Network had a return on equity of 11.81% and a net margin of 19.27%. sell-side analysts expect that Franklin Financial Network Inc will post 2.81 EPS for the current fiscal year.

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

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