Franklin Resources (NYSE:BEN) received a $32.00 price objective from analysts at Bank of America in a note issued to investors on Tuesday, TipRanks reports. The firm presently has a “sell” rating on the closed-end fund’s stock. Bank of America‘s target price suggests a potential downside of 8.52% from the stock’s current price.

BEN has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Franklin Resources from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 target price on shares of Franklin Resources in a research report on Tuesday, February 26th. Citigroup lowered shares of Franklin Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price on shares of Franklin Resources in a research report on Wednesday, January 9th. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $23.00 target price on shares of Franklin Resources in a research report on Monday, January 14th. Seven investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $30.01.

Shares of BEN stock opened at $34.98 on Tuesday. Franklin Resources has a 1 year low of $27.34 and a 1 year high of $35.26. The firm has a market cap of $17.77 billion, a P/E ratio of 10.97, a P/E/G ratio of 2.09 and a beta of 1.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.93 and a current ratio of 3.93.

Franklin Resources (NYSE:BEN) last announced its earnings results on Wednesday, January 30th. The closed-end fund reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.10). Franklin Resources had a return on equity of 15.01% and a net margin of 26.55%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm posted $0.88 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. Analysts predict that Franklin Resources will post 2.39 EPS for the current year.

In other Franklin Resources news, EVP Craig Steven Tyle sold 10,663 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $32.82, for a total value of $349,959.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Vigilant Capital Management LLC acquired a new stake in shares of Franklin Resources in the 1st quarter valued at $39,000. Alpha Omega Wealth Management LLC boosted its stake in shares of Franklin Resources by 120.8% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 1,325 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 725 shares in the last quarter. Clean Yield Group acquired a new stake in shares of Franklin Resources in the 4th quarter valued at $44,000. CWM LLC boosted its stake in shares of Franklin Resources by 22.5% in the 4th quarter. CWM LLC now owns 1,772 shares of the closed-end fund’s stock valued at $53,000 after purchasing an additional 325 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Franklin Resources by 102.2% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,943 shares of the closed-end fund’s stock valued at $58,000 after purchasing an additional 982 shares in the last quarter. 49.53% of the stock is currently owned by hedge funds and other institutional investors.

About Franklin Resources

Franklin Resources, Inc offers banking products and services. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

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Analyst Recommendations for Franklin Resources (NYSE:BEN)

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