Wall Street Zen Downgrades Franklin Financial Services (NASDAQ:FRAF) to Hold

Franklin Financial Services (NASDAQ:FRAF) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other research analysts have also issued reports about the stock. Hovde Group lowered shares of Franklin Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Franklin Financial Services in a research note on Monday, April 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Franklin Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Franklin Financial Services Price Performance

Franklin Financial Services stock opened at $63.10 on Friday. The stock has a market capitalization of $283.32 million, a P/E ratio of 11.49 and a beta of -0.02. The company’s fifty day moving average price is $60.81 and its 200 day moving average price is $55.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Franklin Financial Services has a 1 year low of $38.52 and a 1 year high of $64.88.

Franklin Financial Services (NASDAQ:FRAF) last posted its quarterly earnings data on Friday, July 24th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $24.50 million during the quarter, compared to analysts’ expectations of $24.70 million. Franklin Financial Services had a net margin of 18.20% and a return on equity of 14.21%.

Insiders Place Their Bets

In related news, EVP Steven D. Butz sold 1,400 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FRAF. Russell Investments Group Ltd. boosted its holdings in shares of Franklin Financial Services by 69.2% during the 4th quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock worth $43,000 after purchasing an additional 353 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Franklin Financial Services by 84.1% in the third 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Franklin Financial Services during the second quarter worth approximately $79,000. New York State Common Retirement Fund purchased a new position in Franklin Financial Services during the second quarter worth approximately $100,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Franklin Financial Services during the first quarter worth $133,000. 24.80% of the stock is owned by hedge funds and other institutional investors.

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.