Franklin Financial Network Inc (FSB) Expected to Post Quarterly Sales of $29.65 Million

Brokerages expect Franklin Financial Network Inc (NYSE:FSB) to announce $29.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Franklin Financial Network’s earnings. The lowest sales estimate is $29.60 million and the highest is $29.70 million. Franklin Financial Network reported sales of $28.35 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The business is scheduled to issue its next earnings results on Wednesday, July 25th.

On average, analysts expect that Franklin Financial Network will report full year sales of $121.35 million for the current fiscal year, with estimates ranging from $120.90 million to $121.80 million. For the next fiscal year, analysts expect that the company will report sales of $133.85 million per share, with estimates ranging from $133.60 million to $134.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Franklin Financial Network.

Franklin Financial Network (NYSE:FSB) last released its earnings results on Wednesday, April 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.09. Franklin Financial Network had a return on equity of 11.77% and a net margin of 19.59%. The company had revenue of $28.57 million for the quarter, compared to analysts’ expectations of $29.20 million.

Several equities research analysts have recently commented on FSB shares. Compass Point lowered Franklin Financial Network from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Zacks Investment Research raised Franklin Financial Network from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday, January 25th. UBS lowered Franklin Financial Network from an “outperform” rating to a “market perform” rating in a research note on Friday, January 26th. Raymond James reissued a “market perform” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Finally, Hovde Group reissued a “hold” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Franklin Financial Network presently has an average rating of “Hold” and an average target price of $39.67.

In related news, insider Kevin A. Herrington sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $33.57, for a total value of $33,570.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David J. Mcdaniel sold 900 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $34.52, for a total value of $31,068.00. Following the completion of the sale, the insider now directly owns 15,421 shares in the company, valued at approximately $532,332.92. The disclosure for this sale can be found here. Insiders have sold a total of 6,825 shares of company stock worth $228,499 in the last three months. Corporate insiders own 10.56% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Salzhauer Michael lifted its stake in Franklin Financial Network by 98.2% in the 4th quarter. Salzhauer Michael now owns 158,216 shares of the financial services provider’s stock valued at $5,395,000 after buying an additional 78,397 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Franklin Financial Network by 56.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 200,943 shares of the financial services provider’s stock valued at $7,164,000 after buying an additional 72,126 shares in the last quarter. Two Sigma Investments LP lifted its stake in Franklin Financial Network by 154.0% in the 4th quarter. Two Sigma Investments LP now owns 57,320 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 34,750 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Franklin Financial Network by 25.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 23,164 shares of the financial services provider’s stock valued at $826,000 after buying an additional 4,700 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in Franklin Financial Network in the 4th quarter valued at approximately $500,000. 56.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:FSB traded down $0.05 during trading on Friday, hitting $35.95. 28,700 shares of the stock were exchanged, compared to its average volume of 81,518. The firm has a market capitalization of $517.46 million, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.76 and a quick ratio of 0.75. Franklin Financial Network has a 12-month low of $30.30 and a 12-month high of $42.65.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc operates as the holding company for Franklin Synergy Bank that provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals. The company's deposit products include demand, interest-bearing transaction accounts, money market accounts, certificates of deposit, municipal deposits, savings, and deposit accounts.

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