Swiss National Bank Boosts Stock Holdings in Franklin Financial Network Inc (NYSE:FSB)
Swiss National Bank lifted its position in Franklin Financial Network Inc (NYSE:FSB) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,700 shares of the financial services provider’s stock after buying an additional 600 shares during the period. Swiss National Bank owned approximately 0.17% of Franklin Financial Network worth $716,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Franklin Financial Network by 104.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,287 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 659 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Franklin Financial Network by 67,375.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,699 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,695 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Franklin Financial Network during the 1st quarter worth approximately $146,000. Aperio Group LLC purchased a new stake in Franklin Financial Network during the 2nd quarter worth approximately $160,000. Finally, Comerica Bank grew its position in Franklin Financial Network by 3.6% during the 1st quarter. Comerica Bank now owns 12,161 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 420 shares during the last quarter. 64.29% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:FSB traded up $0.05 during trading hours on Friday, hitting $31.92. 30,393 shares of the company were exchanged, compared to its average volume of 60,946. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.97 and a quick ratio of 0.96. Franklin Financial Network Inc has a 52-week low of $25.25 and a 52-week high of $41.50. The company’s 50 day moving average price is $28.63 and its 200-day moving average price is $28.62. The stock has a market capitalization of $451.03 million, a price-to-earnings ratio of 11.78 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 14th. Franklin Financial Network’s payout ratio is 5.90%.
In other Franklin Financial Network news, Director James W. Iv Cross sold 2,000 shares of Franklin Financial Network stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $30.16, for a total transaction of $60,320.00. Following the completion of the sale, the director now directly owns 29,463 shares in the company, valued at approximately $888,604.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.70% of the company’s stock.
Several analysts have weighed in on FSB shares. Stephens raised shares of Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 target price on the stock in a research report on Friday, July 26th. Raymond James raised shares of Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of Franklin Financial Network from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 28th. Sandler O’Neill downgraded shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.20.
About Franklin Financial Network
Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.
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