Wall Street analysts expect Franklin Financial Network Inc (NYSE:FSB) to announce sales of $32.58 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Franklin Financial Network’s earnings, with the lowest sales estimate coming in at $32.10 million and the highest estimate coming in at $33.06 million. Franklin Financial Network reported sales of $30.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.6%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, October 23rd.
On average, analysts expect that Franklin Financial Network will report full-year sales of $129.12 million for the current financial year, with estimates ranging from $128.10 million to $130.13 million. For the next fiscal year, analysts anticipate that the company will report sales of $138.72 million, with estimates ranging from $138.43 million to $139.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $32.29 million for the quarter, compared to analysts’ expectations of $32.40 million.
FSB has been the topic of a number of recent analyst reports. Sandler O’Neill cut shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Franklin Financial Network from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stephens raised shares of Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 price target on the stock in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.20.
In other news, Director James W. Iv Cross sold 2,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $30.16, for a total transaction of $60,320.00. Following the transaction, the director now directly owns 29,463 shares of the company’s stock, valued at approximately $888,604.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of Franklin Financial Network by 67,375.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,699 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,695 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Franklin Financial Network in the 1st quarter worth about $146,000. Aperio Group LLC purchased a new stake in shares of Franklin Financial Network in the 2nd quarter worth about $160,000. State of Alaska Department of Revenue boosted its position in shares of Franklin Financial Network by 143.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 10,223 shares of the financial services provider’s stock worth $308,000 after buying an additional 6,018 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Franklin Financial Network by 3.6% in the 1st quarter. Comerica Bank now owns 12,161 shares of the financial services provider’s stock worth $333,000 after buying an additional 420 shares in the last quarter. 64.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:FSB traded up $0.02 on Thursday, reaching $29.31. 54,400 shares of the company were exchanged, compared to its average volume of 73,557. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.16. Franklin Financial Network has a 1-year low of $25.25 and a 1-year high of $39.58. The firm has a market cap of $431.29 million, a price-to-earnings ratio of 10.82 and a beta of 1.36. The company has a 50-day moving average of $29.77 and a 200-day moving average of $28.47.
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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