Sterling Capital Management LLC bought a new stake in shares of Franklin Financial Network Inc (NYSE:FSB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,605 shares of the financial services provider’s stock, valued at approximately $923,000. Sterling Capital Management LLC owned about 0.16% of Franklin Financial Network as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Franklin Financial Network by 132.4% during the second quarter. BlackRock Inc. now owns 1,767,874 shares of the financial services provider’s stock valued at $66,473,000 after purchasing an additional 1,007,023 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Franklin Financial Network by 28.2% during the second quarter. Dimensional Fund Advisors LP now owns 581,247 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 127,937 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Franklin Financial Network during the second quarter valued at $15,718,000. Royce & Associates LP lifted its holdings in shares of Franklin Financial Network by 164.0% during the second quarter. Royce & Associates LP now owns 268,640 shares of the financial services provider’s stock valued at $10,101,000 after purchasing an additional 166,895 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Franklin Financial Network by 1.5% during the second quarter. American Century Companies Inc. now owns 218,878 shares of the financial services provider’s stock valued at $8,230,000 after purchasing an additional 3,246 shares during the last quarter. 64.13% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on FSB shares. Stephens reaffirmed a “hold” rating and set a $33.00 target price on shares of Franklin Financial Network in a report on Thursday, October 25th. Zacks Investment Research downgraded Franklin Financial Network from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $39.00 target price on shares of Franklin Financial Network in a report on Monday, July 30th. ValuEngine raised Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Compass Point raised Franklin Financial Network from a “sell” rating to a “neutral” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.40.

In related news, insider David J. Mcdaniel sold 900 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $38.87, for a total transaction of $34,983.00. Following the transaction, the insider now directly owns 15,421 shares of the company’s stock, valued at $599,414.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah L. Meyerrose sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $38.50, for a total value of $77,000.00. Following the transaction, the chief financial officer now directly owns 7,255 shares in the company, valued at $279,317.50. The disclosure for this sale can be found here. 10.56% of the stock is currently owned by insiders.

NYSE:FSB opened at $34.02 on Friday. The firm has a market cap of $488.23 million, a P/E ratio of 14.06 and a beta of 1.19. Franklin Financial Network Inc has a 1-year low of $30.80 and a 1-year high of $41.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $30.00 million for the quarter, compared to analyst estimates of $31.30 million. Franklin Financial Network had a return on equity of 11.85% and a net margin of 19.13%. Equities research analysts predict that Franklin Financial Network Inc will post 2.76 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2018/11/10/sterling-capital-management-llc-buys-shares-of-23605-franklin-financial-network-inc-fsb.html.

Franklin Financial Network Profile

Franklin Financial Network, Inc operates as the holding company for Franklin Synergy Bank that provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals. The company's deposit products include demand, interest-bearing transaction accounts, money market accounts, certificates of deposit, municipal deposits, savings, and deposit accounts.

Recommended Story: Find a Trading Strategy That Works

Want to see what other hedge funds are holding FSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Financial Network Inc (NYSE:FSB).

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

Receive News & Ratings for Franklin Financial Network Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Financial Network and related companies with MarketBeat.com's FREE daily email newsletter.