Zacks Investment Research Upgrades Franklin Financial Network (FSB) to “Hold”

Franklin Financial Network (NYSE:FSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Several other research analysts also recently weighed in on the company. Compass Point downgraded Franklin Financial Network from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. UBS downgraded Franklin Financial Network from an “outperform” rating to a “market perform” rating in a research note on Friday, January 26th. Raymond James restated a “market perform” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Hovde Group restated a “hold” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Finally, Piper Jaffray restated a “hold” rating and issued a $35.00 price target on shares of Franklin Financial Network in a research note on Sunday, January 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Franklin Financial Network has a consensus rating of “Hold” and an average target price of $39.67.

Shares of Franklin Financial Network traded up $0.75, reaching $35.10, during mid-day trading on Wednesday, MarketBeat.com reports. 49,900 shares of the company traded hands, compared to its average volume of 84,932. The company has a market cap of $490.87 million, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. The company has a current ratio of 0.76, a quick ratio of 0.78 and a debt-to-equity ratio of 1.23. Franklin Financial Network has a 52 week low of $34.40 and a 52 week high of $34.40.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.09. The company had revenue of $28.57 million during the quarter, compared to the consensus estimate of $29.20 million. Franklin Financial Network had a return on equity of 11.77% and a net margin of 19.59%. equities research analysts predict that Franklin Financial Network will post 2.77 earnings per share for the current fiscal year.

In other Franklin Financial Network news, Director James W. Iv Cross sold 3,525 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $32.66, for a total value of $115,126.50. Following the completion of the transaction, the director now directly owns 21,450 shares in the company, valued at approximately $700,557. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David J. Mcdaniel sold 900 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $34.52, for a total value of $31,068.00. Following the completion of the transaction, the insider now owns 15,421 shares of the company’s stock, valued at $532,332.92. The disclosure for this sale can be found here. Insiders sold a total of 6,825 shares of company stock valued at $228,499 over the last 90 days. 11.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Franklin Financial Network by 1.7% during the 4th quarter. BlackRock Inc. now owns 759,745 shares of the financial services provider’s stock valued at $25,908,000 after acquiring an additional 12,861 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Franklin Financial Network by 40.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 453,310 shares of the financial services provider’s stock valued at $14,778,000 after acquiring an additional 129,854 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Franklin Financial Network by 9.8% during the 4th quarter. Bank of Montreal Can now owns 388,340 shares of the financial services provider’s stock valued at $13,243,000 after acquiring an additional 34,659 shares during the last quarter. JCSD Capital LLC boosted its position in shares of Franklin Financial Network by 9.0% during the 1st quarter. JCSD Capital LLC now owns 243,003 shares of the financial services provider’s stock valued at $7,922,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Context BH Capital Management LP boosted its position in shares of Franklin Financial Network by 44.2% during the 4th quarter. Context BH Capital Management LP now owns 227,115 shares of the financial services provider’s stock valued at $7,745,000 after acquiring an additional 69,667 shares during the last quarter. Hedge funds and other institutional investors own 54.84% of the company’s stock.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc operates as the holding company for Franklin Synergy Bank that provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals. The company's deposit products include demand, interest-bearing transaction accounts, money market accounts, certificates of deposit, municipal deposits, savings, and deposit accounts.

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