Franklin Financial Network, Inc. (NYSE:FSB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.

According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “

FSB has been the subject of a number of other research reports. Hovde Group began coverage on Franklin Financial Network in a report on Friday, August 4th. They issued a “market perform” rating and a $38.00 price objective for the company. Sandler O’Neill began coverage on Franklin Financial Network in a report on Wednesday, July 12th. They issued a “hold” rating and a $43.00 price objective for the company. Piper Jaffray Companies downgraded Franklin Financial Network from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $41.00 in a report on Thursday, July 27th. BidaskClub downgraded Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Stephens downgraded Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective for the company. in a report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Franklin Financial Network currently has an average rating of “Hold” and an average target price of $39.50.

Shares of Franklin Financial Network (NYSE:FSB) traded down 0.44% during mid-day trading on Thursday, reaching $34.05. 59,465 shares of the company’s stock were exchanged. Franklin Financial Network has a one year low of $29.85 and a one year high of $44.30. The stock has a 50-day moving average of $34.54 and a 200 day moving average of $34.54. The firm has a market capitalization of $448.88 million, a P/E ratio of 14.06 and a beta of 1.48.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $28.35 million during the quarter, compared to the consensus estimate of $30.63 million. Franklin Financial Network had a return on equity of 11.80% and a net margin of 23.50%. On average, analysts forecast that Franklin Financial Network will post $2.50 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of Franklin Financial Network by 1.1% during the first quarter. Legal & General Group Plc now owns 2,814 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 30 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Franklin Financial Network by 3,009.2% during the second quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 2,949 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Franklin Financial Network during the second quarter valued at $211,000. Goldman Sachs Group Inc. bought a new position in shares of Franklin Financial Network during the second quarter valued at $214,000. Finally, Menta Capital LLC bought a new position in shares of Franklin Financial Network during the first quarter valued at $252,000. Hedge funds and other institutional investors own 59.21% of the company’s stock.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals.

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