Franklin Financial Services (NASDAQ:FRAF) Lowered to Market Perform Rating by Hovde Group

Franklin Financial Services (NASDAQ:FRAF) was downgraded by stock analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday.

FRAF has been the subject of a number of other reports. Weiss Ratings restated a “buy (b)” rating on shares of Franklin Financial Services in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Franklin Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Financial Services has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Franklin Financial Services Stock Up 3.7%

FRAF stock opened at $61.13 on Wednesday. Franklin Financial Services has a twelve month low of $33.44 and a twelve month high of $62.84. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market cap of $274.47 million and a PE ratio of 11.45. The business’s 50-day simple moving average is $56.40 and its 200 day simple moving average is $53.06.

Franklin Financial Services (NASDAQ:FRAF) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.34 by $0.14. Franklin Financial Services had a return on equity of 14.13% and a net margin of 17.73%.The firm had revenue of $23.88 million during the quarter, compared to analysts’ expectations of $23.30 million.

Insider Activity

In related news, EVP Steven D. Butz sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $57.73, for a total transaction of $80,822.00. Following the completion of the transaction, the executive vice president owned 5,610 shares in the company, valued at $323,865.30. This trade represents a 19.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of Franklin Financial Services by 69.2% in the 4th quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 353 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Franklin Financial Services by 84.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock valued at $44,000 after purchasing an additional 434 shares during the last quarter. Royal Bank of Canada boosted its position in Franklin Financial Services by 5.1% in the first quarter. Royal Bank of Canada now owns 10,319 shares of the company’s stock valued at $527,000 after buying an additional 502 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Franklin Financial Services by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 64,715 shares of the company’s stock worth $2,241,000 after buying an additional 541 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Franklin Financial Services by 7.2% during the first quarter. Bank of New York Mellon Corp now owns 11,761 shares of the company’s stock worth $601,000 after buying an additional 786 shares during the last quarter. 24.80% of the stock is currently owned by institutional investors and hedge funds.

Franklin Financial Services Company Profile

Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.‐listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.