Franklin Financial Network Inc (NYSE:FSB) Director James W. Iv Cross sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $30.16, for a total transaction of $60,320.00. Following the sale, the director now owns 29,463 shares in the company, valued at approximately $888,604.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
FSB stock traded up $0.83 during mid-day trading on Wednesday, hitting $31.67. The stock had a trading volume of 86,631 shares, compared to its average volume of 73,995. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.16. Franklin Financial Network Inc has a 1-year low of $25.25 and a 1-year high of $41.50. The company has a fifty day moving average of $28.63 and a 200 day moving average of $28.62. The stock has a market capitalization of $442.11 million, a price-to-earnings ratio of 11.69 and a beta of 1.36.
Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The business had revenue of $32.29 million during the quarter, compared to analyst estimates of $32.40 million. Franklin Financial Network had a return on equity of 8.23% and a net margin of 11.40%. As a group, sell-side analysts expect that Franklin Financial Network Inc will post 2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.51%. The ex-dividend date was Wednesday, August 14th. Franklin Financial Network’s payout ratio is presently 5.90%.
Several brokerages have recently commented on FSB. Raymond James raised Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Friday, May 17th. Stephens upgraded shares of Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 price target for the company in a report on Friday, July 26th. ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Franklin Financial Network from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.20.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Franklin Financial Network by 104.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,287 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 659 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Franklin Financial Network by 67,375.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,699 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 2,695 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Franklin Financial Network during the 1st quarter valued at $146,000. Aperio Group LLC acquired a new stake in shares of Franklin Financial Network in the 2nd quarter valued at $160,000. Finally, Comerica Bank lifted its stake in shares of Franklin Financial Network by 3.6% in the 1st quarter. Comerica Bank now owns 12,161 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 64.29% of the company’s stock.
Franklin Financial Network Company Profile
Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.
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