Franklin Financial Services (NASDAQ:FRAF) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Franklin Financial Services (NASDAQ:FRAF) released its earnings results on Friday. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03, FiscalAI reports. Franklin Financial Services had a return on equity of 14.13% and a net margin of 17.73%.The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $24.70 million.

Franklin Financial Services Stock Down 0.1%

Shares of NASDAQ:FRAF traded down $0.06 during trading on Friday, hitting $62.76. 20,013 shares of the company’s stock traded hands, compared to its average volume of 39,988. Franklin Financial Services has a 52 week low of $38.52 and a 52 week high of $64.88. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. The company has a market cap of $281.77 million, a price-to-earnings ratio of 11.66 and a beta of -0.02. The company has a 50-day moving average price of $60.50 and a 200-day moving average price of $55.13.

Franklin Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.2%. Franklin Financial Services’s dividend payout ratio (DPR) is currently 25.47%.

Analysts Set New Price Targets

A number of analysts have recently commented on FRAF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Franklin Financial Services in a research note on Monday, April 27th. Wall Street Zen raised shares of Franklin Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Hovde Group cut shares of Franklin Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Insider Transactions at Franklin Financial Services

In related news, EVP Steven D. Butz sold 1,400 shares of the 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 sale, the executive vice president directly owned 5,610 shares of the company’s stock, valued at approximately $323,865.30. This represents a 19.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FRAF. Russell Investments Group Ltd. increased its position in shares of Franklin Financial Services by 69.2% during the fourth quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 353 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Franklin Financial Services by 84.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock valued at $44,000 after acquiring an additional 434 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Franklin Financial Services in the 2nd quarter worth $79,000. New York State Common Retirement Fund acquired a new position in Franklin Financial Services in the 2nd quarter worth $100,000. Finally, Cubist Systematic Strategies LLC bought a new position in Franklin Financial Services during the 1st quarter worth about $133,000. Institutional investors and hedge funds own 24.80% of the company’s stock.

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.