Franklin Financial Services (NASDAQ:FRAF) Shares Up 2.7% – Here’s What Happened

Franklin Financial Services Corp. (NASDAQ:FRAF) shot up 2.7% during mid-day trading on Monday . The company traded as high as $53.72 and last traded at $53.04. 56,879 shares traded hands during trading, an increase of 140% from the average session volume of 23,735 shares. The stock had previously closed at $51.67.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FRAF. Hovde Group began coverage on shares of Franklin Financial Services in a report on Wednesday, March 11th. They set an “outperform” rating and a $59.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Franklin Financial Services in a report on Wednesday, January 28th. Finally, Wall Street Zen raised shares of Franklin Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $59.00.

Franklin Financial Services Stock Performance

The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. The company has a market cap of $245.89 million, a PE ratio of 11.55 and a beta of -0.10. The business’s fifty day moving average is $50.35 and its 200-day moving average is $49.80.

Franklin Financial Services (NASDAQ:FRAF) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.35 earnings per share (EPS) for the quarter. The company had revenue of $23.31 million for the quarter. Franklin Financial Services had a net margin of 15.90% and a return on equity of 13.06%.

Franklin Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.4%. Franklin Financial Services’s dividend payout ratio (DPR) is presently 27.85%.

Hedge Funds Weigh In On Franklin Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC purchased a new position in shares of Franklin Financial Services in the third quarter worth approximately $1,000,000. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Franklin Financial Services by 2,373.8% in the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 26,742 shares of the company’s stock worth $1,230,000 after acquiring an additional 25,661 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Franklin Financial Services in the 3rd quarter worth approximately $273,000. Stonebridge Financial Group LLC purchased a new stake in Franklin Financial Services in the 3rd quarter worth approximately $227,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Franklin Financial Services in the 2nd quarter worth approximately $79,000. Hedge funds and other institutional investors own 24.80% of the company’s stock.

About Franklin Financial Services

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.