Franklin Financial Network Inc (NYSE:FSB) Director Henry W. Jr. Brockman sold 1,600 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $38.10, for a total transaction of $60,960.00. Following the sale, the director now owns 27,100 shares in the company, valued at approximately $1,032,510. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Franklin Financial Network opened at $38.90 on Wednesday, according to MarketBeat. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $547.65 million, a PE ratio of 14.82, a P/E/G ratio of 1.38 and a beta of 1.10. Franklin Financial Network Inc has a 1 year low of $30.30 and a 1 year high of $42.20.
Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.09. The firm had revenue of $28.57 million during the quarter, compared to analyst estimates of $29.20 million. Franklin Financial Network had a return on equity of 11.77% and a net margin of 19.59%. sell-side analysts forecast that Franklin Financial Network Inc will post 2.77 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Foundry Partners LLC raised its position in shares of Franklin Financial Network by 27.1% in the 1st quarter. Foundry Partners LLC now owns 204,275 shares of the financial services provider’s stock worth $6,659,000 after purchasing an additional 43,540 shares during the last quarter. UBS Group AG raised its position in Franklin Financial Network by 45.9% in the 1st quarter. UBS Group AG now owns 8,578 shares of the financial services provider’s stock worth $279,000 after buying an additional 2,698 shares during the last quarter. Citadel Advisors LLC raised its position in Franklin Financial Network by 12.5% in the 1st quarter. Citadel Advisors LLC now owns 31,815 shares of the financial services provider’s stock worth $1,037,000 after buying an additional 3,545 shares during the last quarter. Stifel Financial Corp raised its position in Franklin Financial Network by 15.4% in the 1st quarter. Stifel Financial Corp now owns 70,448 shares of the financial services provider’s stock worth $2,294,000 after buying an additional 9,424 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Franklin Financial Network by 40.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 453,310 shares of the financial services provider’s stock worth $14,778,000 after buying an additional 129,854 shares during the last quarter. 53.34% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. ValuEngine upgraded shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Compass Point lowered Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 price target for the company. in a research report on Tuesday, June 12th. Finally, Zacks Investment Research lowered Franklin Financial Network from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 13th. Two research 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. The company currently has an average rating of “Hold” and a consensus target price of $38.50.
About Franklin Financial Network
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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