Franklin Financial Network Inc. (NYSE:FSB) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by $0.04. Franklin Financial Network had a return on equity of 12.25% and a net margin of 22.88%.
Shares of Franklin Financial Network (NYSE:FSB) traded down 0.14% on Tuesday, hitting $35.50. 29,919 shares of the stock traded hands. The firm has a market cap of $379.92 million, a P/E ratio of 17.19 and a beta of 1.44. The firm’s 50-day moving average is $36.53 and its 200 day moving average is $32.38. Franklin Financial Network has a 12-month low of $22.83 and a 12-month high of $37.79.
In related news, Director Greg Waldron sold 10,900 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $32.78, for a total value of $357,302.00. Following the sale, the director now directly owns 8,807 shares of the company’s stock, valued at $288,693.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jimmy E. Allen sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the sale, the director now directly owns 109,374 shares in the company, valued at $3,828,090. The disclosure for this sale can be found here. 12.36% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. American International Group Inc. boosted its stake in Franklin Financial Network by 69.1% in the second quarter. American International Group Inc. now owns 5,395 shares of the financial services provider’s stock valued at $169,000 after buying an additional 2,205 shares in the last quarter. Rhumbline Advisers bought a new stake in Franklin Financial Network during the second quarter valued at about $270,000. Teachers Advisors Inc. boosted its stake in Franklin Financial Network by 78.2% in the second quarter. Teachers Advisors Inc. now owns 15,083 shares of the financial services provider’s stock valued at $473,000 after buying an additional 6,619 shares in the last quarter. TFS Capital LLC bought a new stake in Franklin Financial Network during the second quarter valued at about $477,000. Finally, Parametric Portfolio Associates LLC bought a new stake in Franklin Financial Network during the second quarter valued at about $646,000. 42.36% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on FSB shares. Zacks Investment Research upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, August 1st. Raymond James Financial Inc. began coverage on shares of Franklin Financial Network in a report on Tuesday, September 6th. They issued an “outperform” rating and a $40.00 target price on the stock. Bank of America Corp. lowered shares of Franklin Financial Network from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Finally, Compass Point boosted their target price on shares of Franklin Financial Network from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th.
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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