Franklin Financial Network (NYSE:FSB) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Franklin Financial Network (NYSE:FSB) from a sell rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Franklin Financial Network from a hold rating to a strong sell rating in a research report on Tuesday, May 28th. Raymond James raised shares of Franklin Financial Network from a market perform rating to an outperform rating and set a $32.00 price target for the company in a research report on Friday, May 17th. Compass Point lowered shares of Franklin Financial Network from a neutral rating to a sell rating in a research report on Monday, April 8th. Hovde Group reissued a market perform rating and issued a $30.00 price target (down from $33.00) on shares of Franklin Financial Network in a research report on Tuesday, April 9th. Finally, Stephens raised shares of Franklin Financial Network from an equal rating to a weight rating and set a $34.00 price target for the company in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Franklin Financial Network presently has a consensus rating of Hold and a consensus target price of $33.20.

FSB stock traded down $0.83 during mid-day trading on Thursday, reaching $27.86. 88,184 shares of the stock traded hands, compared to its average volume of 61,743. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.96 and a current ratio of 0.97. Franklin Financial Network has a 52-week low of $25.25 and a 52-week high of $41.50. The stock has a market capitalization of $422.60 million, a P/E ratio of 10.28 and a beta of 1.36. The stock has a fifty day moving average of $28.05.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Franklin Financial Network had a net margin of 11.40% and a return on equity of 8.23%. The company had revenue of $32.29 million during the quarter, compared to analyst estimates of $32.40 million. Research analysts forecast that Franklin Financial Network will post 2.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, August 14th. Franklin Financial Network’s dividend payout ratio (DPR) is 5.90%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Franklin Financial Network by 2.9% in the fourth quarter. BlackRock Inc. now owns 1,920,571 shares of the financial services provider’s stock worth $50,645,000 after buying an additional 53,245 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Franklin Financial Network by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 751,678 shares of the financial services provider’s stock worth $19,822,000 after buying an additional 55,256 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Franklin Financial Network by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 324,889 shares of the financial services provider’s stock worth $8,567,000 after buying an additional 12,663 shares during the last quarter. Foundry Partners LLC increased its holdings in Franklin Financial Network by 8.1% in the second quarter. Foundry Partners LLC now owns 229,985 shares of the financial services provider’s stock worth $6,407,000 after buying an additional 17,255 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in Franklin Financial Network by 9.4% in the second quarter. Hennessy Advisors Inc. now owns 175,000 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.

Franklin Financial Network Company Profile

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

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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