Franklin Financial Network Inc. (FSB) Director David H. Kemp Buys 2,000 Shares
Franklin Financial Network Inc. (NYSE:FSB) Director David H. Kemp purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average cost of $32.00 per share, for a total transaction of $64,000.00. Following the acquisition, the director now owns 144,605 shares in the company, valued at approximately $4,627,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Franklin Financial Network Inc. (NYSE:FSB) traded up 1.52% during mid-day trading on Wednesday, reaching $36.70. The company’s stock had a trading volume of 43,649 shares. The firm has a market capitalization of $394.82 million, a P/E ratio of 16.54 and a beta of 1.58. Franklin Financial Network Inc. has a 12 month low of $22.83 and a 12 month high of $37.79. The company has a 50 day moving average of $34.11 and a 200-day moving average of $33.34.
Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.04. Franklin Financial Network had a net margin of 23.03% and a return on equity of 12.71%. Equities research analysts forecast that Franklin Financial Network Inc. will post $2.46 EPS for the current year.
A number of institutional investors have recently modified their holdings of FSB. Victory Capital Management Inc. raised its position in shares of Franklin Financial Network by 16.5% in the second quarter. Victory Capital Management Inc. now owns 24,660 shares of the financial services provider’s stock valued at $773,000 after buying an additional 3,490 shares in the last quarter. Turner Investments L.P. purchased a new position in shares of Franklin Financial Network during the second quarter valued at about $784,000. CapWealth Advisors LLC raised its position in shares of Franklin Financial Network by 1,050.0% in the second quarter. CapWealth Advisors LLC now owns 5,750 shares of the financial services provider’s stock valued at $180,000 after buying an additional 5,250 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Franklin Financial Network during the second quarter valued at about $792,000. Finally, Navellier & Associates Inc purchased a new position in shares of Franklin Financial Network during the second quarter valued at about $279,000. Hedge funds and other institutional investors own 44.87% of the company’s stock.
FSB has been the topic of several recent research reports. Raymond James Financial Inc. assumed coverage on Franklin Financial Network in a report on Tuesday, September 6th. They issued an “outperform” rating and a $40.00 price target on the stock. Zacks Investment Research downgraded Franklin Financial Network from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. Compass Point lifted their target price on Franklin Financial Network from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. assumed coverage on Franklin Financial Network in a research note on Tuesday. They set an “overweight” rating and a $41.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Franklin Financial Network presently has an average rating of “Hold” and a consensus target price of $40.88.
Franklin Financial Network Company Profile
Franklin Financial Network, Inc is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals.
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