Brokerages expect Franklin Financial Network Inc (NYSE:FSB) to report sales of $31.30 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Franklin Financial Network’s earnings. The lowest sales estimate is $30.89 million and the highest is $31.70 million. Franklin Financial Network posted sales of $27.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.2%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Franklin Financial Network will report full-year sales of $123.34 million for the current financial year, with estimates ranging from $121.48 million to $125.20 million. For the next year, analysts anticipate that the firm will report sales of $136.28 million per share, with estimates ranging from $132.76 million to $139.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $31.05 million during the quarter, compared to analyst estimates of $29.65 million. Franklin Financial Network had a return on equity of 11.81% and a net margin of 19.27%.
Several equities analysts have recently issued reports on FSB shares. Zacks Investment Research raised Franklin Financial Network from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Wednesday, August 1st. Compass Point lowered Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 target price for the company. in a report on Tuesday, June 12th. ValuEngine raised Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $39.00 target price on shares of Franklin Financial Network in a report on Monday, July 30th. Finally, Stephens reaffirmed a “hold” rating and issued a $39.00 target price on shares of Franklin Financial Network in a report on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Franklin Financial Network has an average rating of “Hold” and a consensus price target of $39.80.
Shares of FSB opened at $40.15 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $579.51 million, a price-to-earnings ratio of 16.59, a P/E/G ratio of 1.42 and a beta of 1.06. Franklin Financial Network has a 52 week low of $30.80 and a 52 week high of $40.80.
In related news, CFO Sarah L. Meyerrose sold 876 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $39.15, for a total value of $34,295.40. Following the transaction, the chief financial officer now owns 9,255 shares in the company, valued at $362,333.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David J. Mcdaniel sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $38.87, for a total value of $34,983.00. Following the completion of the transaction, the insider now owns 15,421 shares in the company, valued at approximately $599,414.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,176 shares of company stock valued at $200,612. 10.56% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Franklin Financial Network in the second quarter valued at approximately $105,000. Piedmont Investment Advisors LLC purchased a new position in Franklin Financial Network in the second quarter valued at approximately $106,000. Acadian Asset Management LLC purchased a new stake in shares of Franklin Financial Network during the second quarter worth $107,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Franklin Financial Network during the second quarter worth $128,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Franklin Financial Network during the second quarter worth $148,000. Institutional investors and hedge funds own 64.31% of the company’s stock.
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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