Bank of New York Mellon Corp lifted its holdings in Franklin Financial Network Inc (NYSE:FSB) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,873 shares of the financial services provider’s stock after acquiring an additional 3,328 shares during the period. Bank of New York Mellon Corp owned approximately 0.49% of Franklin Financial Network worth $2,212,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in shares of 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. Dimensional Fund Advisors LP lifted its position in Franklin Financial Network by 56.0% during the third quarter. Dimensional Fund Advisors LP now owns 200,943 shares of the financial services provider’s stock worth $7,164,000 after purchasing an additional 72,126 shares during the period. Foundry Partners LLC lifted its position in Franklin Financial Network by 42.6% during the fourth quarter. Foundry Partners LLC now owns 160,735 shares of the financial services provider’s stock worth $5,481,000 after purchasing an additional 48,005 shares during the period. American Century Companies Inc. lifted its position in Franklin Financial Network by 267.2% during the fourth quarter. American Century Companies Inc. now owns 114,404 shares of the financial services provider’s stock worth $3,901,000 after purchasing an additional 83,250 shares during the period. Finally, Royce & Associates LP lifted its position in Franklin Financial Network by 16.7% during the third quarter. Royce & Associates LP now owns 71,624 shares of the financial services provider’s stock worth $2,553,000 after purchasing an additional 10,224 shares during the period. Institutional investors and hedge funds own 55.73% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Franklin Financial Network from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 13th. ValuEngine cut shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $35.00 price objective on shares of Franklin Financial Network in a research report on Sunday, January 28th. Hovde Group reaffirmed a “hold” rating on shares of Franklin Financial Network in a research report on Friday, January 26th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Franklin Financial Network in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.67.
FSB stock opened at $33.10 on Tuesday. The stock has a market capitalization of $436.68, a PE ratio of 13.68, a P/E/G ratio of 1.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.79 and a quick ratio of 0.78. Franklin Financial Network Inc has a 12 month low of $30.30 and a 12 month high of $44.30.
Franklin Financial Network (NYSE:FSB) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.08). The company had revenue of $27.87 million during the quarter, compared to the consensus estimate of $30.20 million. Franklin Financial Network had a return on equity of 11.32% and a net margin of 19.08%. analysts anticipate that Franklin Financial Network Inc will post 2.88 EPS for the current year.
In other news, Director James W. Iv Cross sold 3,525 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $32.66, for a total value of $115,126.50. Following the completion of the transaction, the director now owns 21,450 shares of the company’s stock, valued at $700,557. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin A. Herrington sold 1,000 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $33.57, for a total transaction of $33,570.00. The disclosure for this sale can be found here. 10.56% of the stock is currently owned by corporate insiders.
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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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