Franklin Financial Network (FSB) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Franklin Financial Network (NYSE:FSB) from a sell rating to a hold rating in a research note released on Tuesday.
According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded Franklin Financial Network from a hold rating to a buy rating in a research note on Saturday, October 21st. Compass Point reiterated a buy rating and issued a $43.00 price objective (down previously from $47.00) on shares of Franklin Financial Network in a research note on Friday, October 13th. Stephens cut Franklin Financial Network from an overweight rating to an equal weight rating and set a $38.00 price objective for the company. in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies restated a neutral rating and set a $39.00 price target (down previously from $41.50) on shares of Franklin Financial Network in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $40.20.
Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $27.90 million during the quarter, compared to the consensus estimate of $30.97 million. Franklin Financial Network had a return on equity of 11.48% and a net margin of 23.70%. equities research analysts predict that Franklin Financial Network will post 2.49 EPS for the current fiscal year.
In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $33.81, for a total value of $30,429.00. Following the sale, the insider now owns 14,149 shares of the company’s stock, valued at $478,377.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.56% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its stake in shares of Franklin Financial Network by 1.1% during the first quarter. Legal & General Group Plc now owns 2,814 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 30 shares during the last quarter. Alps Advisors Inc. lifted its position in Franklin Financial Network by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,837 shares of the financial services provider’s stock worth $530,000 after buying an additional 33 shares during the period. Greenwood Capital Associates LLC lifted its position in Franklin Financial Network by 2.0% during the second quarter. Greenwood Capital Associates LLC now owns 18,642 shares of the financial services provider’s stock worth $769,000 after buying an additional 361 shares during the period. The Manufacturers Life Insurance Company lifted its position in Franklin Financial Network by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,497 shares of the financial services provider’s stock worth $392,000 after buying an additional 404 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Franklin Financial Network by 1.2% during the second quarter. Victory Capital Management Inc. now owns 35,724 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 425 shares during the period. 54.91% 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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