Franklin Financial Network (NYSE:FSB) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a sell rating in a report released on Tuesday, January 9th.

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. “

FSB has been the topic of a number of other reports. ValuEngine raised shares of Franklin Financial Network from a hold rating to a buy rating in a research report on Saturday, October 21st. Piper Jaffray Companies reaffirmed 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. 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. Sandler O’Neill raised 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. Finally, Compass Point reaffirmed 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $39.67.

Shares of Franklin Financial Network (NYSE FSB) opened at $33.10 on Tuesday. The firm has a market cap of $431.53, a PE ratio of 16.23, a P/E/G ratio of 1.10 and a beta of 1.41. Franklin Financial Network has a 1 year low of $30.30 and a 1 year high of $44.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.80 and a quick ratio of 0.79.

In other 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 transaction of $30,429.00. Following the transaction, the insider now directly owns 14,149 shares in the company, valued at $478,377.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.56% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Franklin Financial Network by 5.4% during the second quarter. Vanguard Group Inc. now owns 490,869 shares of the financial services provider’s stock valued at $20,249,000 after purchasing an additional 25,062 shares in the last quarter. Northpointe Capital LLC boosted its stake in Franklin Financial Network by 7.2% in the third quarter. Northpointe Capital LLC now owns 485,147 shares of the financial services provider’s stock valued at $17,295,000 after acquiring an additional 32,562 shares in the last quarter. Bank of Montreal Can boosted its stake in Franklin Financial Network by 9.8% in the fourth quarter. Bank of Montreal Can now owns 388,340 shares of the financial services provider’s stock valued at $13,243,000 after acquiring an additional 34,659 shares in the last quarter. Phocas Financial Corp. boosted its stake in Franklin Financial Network by 314.4% in the second quarter. Phocas Financial Corp. now owns 387,006 shares of the financial services provider’s stock valued at $15,964,000 after acquiring an additional 293,607 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Franklin Financial Network by 3.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 238,626 shares of the financial services provider’s stock valued at $8,507,000 after acquiring an additional 7,405 shares in the last quarter. Hedge funds and other institutional investors own 52.63% of the company’s stock.

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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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