Empowered Funds LLC Sells 10,576 Shares of Franklin Financial Services Corp. $FRAF

Empowered Funds LLC lowered its stake in shares of Franklin Financial Services Corp. (NASDAQ:FRAF) by 30.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,375 shares of the company’s stock after selling 10,576 shares during the quarter. Empowered Funds LLC’s holdings in Franklin Financial Services were worth $1,245,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in 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 acquiring an additional 353 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Franklin Financial Services by 84.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock worth $44,000 after purchasing an additional 434 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Franklin Financial Services in the second quarter worth $79,000. New York State Common Retirement Fund bought a new position in shares of Franklin Financial Services in the second quarter worth $100,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Franklin Financial Services in the first quarter worth $133,000. Institutional investors own 24.80% of the company’s stock.

Franklin Financial Services Stock Down 1.1%

NASDAQ FRAF opened at $62.32 on Friday. The business has a fifty day moving average price of $61.77 and a two-hundred day moving average price of $56.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. Franklin Financial Services Corp. has a fifty-two week low of $39.25 and a fifty-two week high of $64.88. The stock has a market capitalization of $279.82 million, a PE ratio of 11.35 and a beta of -0.02.

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

Franklin Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 7th. Franklin Financial Services’s dividend payout ratio is currently 24.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Franklin Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Hovde Group raised their target price on shares of Franklin Financial Services from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Franklin Financial Services in a report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Franklin Financial Services has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Buying and Selling at Franklin Financial Services

In related news, EVP Steven D. Butz sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $57.73, for a total value of $80,822.00. Following the sale, the executive vice president directly owned 5,610 shares of the company’s stock, valued at $323,865.30. This trade represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.93% of the stock is currently owned by corporate insiders.

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.