Franklin Financial Network Inc (FSB) Short Interest Update

Franklin Financial Network Inc (NYSE:FSB) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 836,831 shares, an increase of 66.9% from the May 31st total of 501,425 shares. Based on an average trading volume of 392,524 shares, the days-to-cover ratio is currently 2.1 days. Approximately 6.4% of the company’s stock are sold short.

A number of brokerages recently issued reports on FSB. Compass Point cut Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 target price for the company. in a research report on Tuesday, June 12th. ValuEngine cut Franklin Financial Network from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research raised Franklin Financial Network from a “sell” rating to a “hold” rating in a research report on Wednesday, May 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Franklin Financial Network has an average rating of “Hold” and a consensus target price of $38.50.

Shares of Franklin Financial Network opened at $37.60 on Friday, according to Marketbeat. The stock has a market capitalization of $549.80 million, a P/E ratio of 15.54, a PEG ratio of 1.38 and a beta of 1.10. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.23. Franklin Financial Network has a 52-week low of $30.30 and a 52-week high of $42.20.

Franklin Financial Network (NYSE:FSB) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The firm had revenue of $28.57 million during the quarter, compared to analysts’ expectations of $29.20 million. Franklin Financial Network had a return on equity of 11.77% and a net margin of 19.59%. research analysts forecast that Franklin Financial Network will post 2.77 earnings per share for the current fiscal year.

In other news, Director Henry W. Jr. Brockman sold 1,600 shares of the stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $38.10, for a total value of $60,960.00. Following the transaction, the director now owns 27,100 shares in the company, valued at approximately $1,032,510. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David J. Mcdaniel sold 900 shares of the stock in a transaction dated 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 transaction, the insider now owns 15,421 shares in the company, valued at approximately $532,332.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,131 shares of company stock worth $449,021. Company insiders own 10.56% of the company’s stock.

A number of institutional investors have recently bought and sold shares of FSB. Schwab Charles Investment Management Inc. lifted its position in Franklin Financial Network by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 24,855 shares of the financial services provider’s stock worth $848,000 after acquiring an additional 1,691 shares during the period. Wells Fargo & Company MN lifted its position in Franklin Financial Network by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 21,264 shares of the financial services provider’s stock worth $725,000 after acquiring an additional 4,832 shares during the period. Bank of New York Mellon Corp lifted its position in Franklin Financial Network by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 64,873 shares of the financial services provider’s stock worth $2,212,000 after acquiring an additional 3,328 shares during the period. BlackRock Inc. lifted its position in Franklin Financial Network by 1.7% during the 4th quarter. BlackRock Inc. now owns 759,745 shares of the financial services provider’s stock worth $25,908,000 after acquiring an additional 12,861 shares during the period. Finally, Citadel Advisors LLC lifted its position in Franklin Financial Network by 13.5% during the 4th quarter. Citadel Advisors LLC now owns 28,270 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 3,366 shares during the period. 53.34% of the stock is owned by institutional investors.

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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