Franklin Financial Network (FSB) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Franklin Financial Network (NYSE:FSB) from a buy rating to a hold rating in a report published on Wednesday morning.

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 brokerages have also issued reports on FSB. Stephens lowered 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. Piper Jaffray Companies reiterated 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. Compass Point reiterated 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, Sandler O’Neill upgraded shares of Franklin Financial Network from a hold rating to a buy rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $40.17.

Franklin Financial Network (FSB) traded up $0.85 during trading hours on Wednesday, reaching $37.70. 75,743 shares of the company’s stock were exchanged, compared to its average volume of 79,141. Franklin Financial Network has a 52-week low of $30.30 and a 52-week high of $44.30. The firm has a market capitalization of $486.99, a price-to-earnings ratio of 15.39, a PEG ratio of 1.21 and a beta of 1.41. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.79 and a current ratio of 0.80.

Franklin Financial Network (NYSE:FSB) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $30.97 million. analysts expect that Franklin Financial Network will post 2.48 earnings per share for the current fiscal 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 transaction, the insider now directly owns 14,149 shares in the company, valued at $478,377.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.56% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in Franklin Financial Network by 3,009.2% in the second quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock valued at $125,000 after buying an additional 2,949 shares during the period. Voya Investment Management LLC acquired a new position in Franklin Financial Network in the second quarter valued at approximately $211,000. Goldman Sachs Group Inc. acquired a new position in Franklin Financial Network in the second quarter valued at approximately $214,000. Smith Moore & CO. acquired a new position in Franklin Financial Network in the third quarter valued at approximately $214,000. Finally, Principal Financial Group Inc. acquired a new position in Franklin Financial Network in the second quarter valued at approximately $293,000. Institutional investors and hedge funds own 54.91% of the company’s stock.

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About Franklin Financial Network

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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