Franklin Financial Network Inc. (FSB) Now Covered by Piper Jaffray Cos.
Research analysts at Piper Jaffray Cos. assumed coverage on shares of Franklin Financial Network Inc. (NYSE:FSB) in a research report issued on Tuesday. The brokerage set an “overweight” rating and a $41.50 price target on the financial services provider’s stock. Piper Jaffray Cos.’s target price would indicate a potential upside of 10.67% from the stock’s previous close.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Raymond James Financial Inc. assumed coverage on Franklin Financial Network in a report on Tuesday, September 6th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Compass Point upped their target price on Franklin Financial Network from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.88.
Franklin Financial Network (NYSE:FSB) opened at 37.50 on Tuesday. Franklin Financial Network has a 52-week low of $22.83 and a 52-week high of $37.79. The company has a market cap of $403.43 million, a P/E ratio of 16.90 and a beta of 1.58. The company’s 50 day moving average price is $34.12 and its 200 day moving average price is $33.37.
Franklin Financial Network (NYSE:FSB) last released its 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 return on equity of 12.71% and a net margin of 23.03%. Equities research analysts anticipate that Franklin Financial Network will post $2.41 EPS for the current fiscal year.
In other news, Director Jimmy E. Allen sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $33.90, for a total value of $84,750.00. Following the transaction, the director now owns 114,374 shares of the company’s stock, valued at $3,877,278.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Herrington bought 1,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was purchased at an average cost of $32.00 per share, for a total transaction of $32,000.00. The disclosure for this purchase can be found here. Company insiders own 12.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Franklin Financial Network during the second quarter valued at approximately $10,020,000. American Century Companies Inc. increased its position in Franklin Financial Network by 627.5% in the second quarter. American Century Companies Inc. now owns 60,170 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 51,899 shares during the last quarter. Monarch Partners Asset Management LLC increased its position in Franklin Financial Network by 23.0% in the second quarter. Monarch Partners Asset Management LLC now owns 20,295 shares of the financial services provider’s stock valued at $636,000 after buying an additional 3,800 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Franklin Financial Network by 16.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 170,772 shares of the financial services provider’s stock valued at $5,355,000 after buying an additional 24,690 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in Franklin Financial Network by 1.1% in the second quarter. Moody Lynn & Lieberson LLC now owns 19,356 shares of the financial services provider’s stock valued at $607,000 after buying an additional 213 shares during the last quarter. 44.87% of the stock is currently owned by institutional investors.
About Franklin Financial Network
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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