Royce & Associates LP grew its stake in shares of Franklin Financial Network Inc (NYSE:FSB) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,624 shares of the financial services provider’s stock after purchasing an additional 10,224 shares during the quarter. Royce & Associates LP owned approximately 0.54% of Franklin Financial Network worth $2,553,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FSB. Citigroup Inc. boosted its stake in shares of Franklin Financial Network by 3,009.2% during the second quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 2,949 shares during the period. Voya Investment Management LLC purchased a new stake in shares of Franklin Financial Network during the second quarter valued at approximately $211,000. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Financial Network during the second quarter valued at approximately $214,000. Smith Moore & CO. purchased a new stake in Franklin Financial Network in the third quarter worth $214,000. Finally, Principal Financial Group Inc. purchased a new stake in Franklin Financial Network in the second quarter worth $293,000. 54.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Franklin Financial Network Inc (NYSE:FSB) opened at $34.75 on Wednesday. Franklin Financial Network Inc has a 52 week low of $30.30 and a 52 week high of $44.30. The company has a market capitalization of $462.55, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.41 and a beta of 1.41. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 1.30.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $27.90 million during the quarter, compared to analyst estimates of $30.97 million. Franklin Financial Network had a return on equity of 11.48% and a net margin of 23.70%. analysts expect that Franklin Financial Network Inc will post 2.49 EPS for the current fiscal year.

A number of brokerages recently commented on FSB. Zacks Investment Research raised Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine raised Franklin Financial Network from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $39.00 price target (down previously from $41.50) on shares of Franklin Financial Network in a research note on Thursday, October 5th. Stephens lowered Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research note on Tuesday, October 3rd. Finally, Compass Point reaffirmed a “buy” rating and issued a $43.00 price target (down previously from $47.00) on shares of Franklin Financial Network in a research note on Friday, October 13th. 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 company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.20.

In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $33.81, for a total transaction of $30,429.00. Following the completion of the transaction, the insider now owns 14,149 shares of the company’s stock, valued at $478,377.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.56% of the company’s stock.

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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.

Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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