Hennessy Advisors Inc. Reduces Holdings in Franklin Financial Network Inc (NYSE:FSB)

Hennessy Advisors Inc. reduced its holdings in shares of Franklin Financial Network Inc (NYSE:FSB) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,000 shares of the financial services provider’s stock after selling 30,000 shares during the period. Hennessy Advisors Inc. owned 0.88% of Franklin Financial Network worth $4,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FSB. Nuveen Asset Management LLC purchased a new position in Franklin Financial Network during the 2nd quarter valued at about $2,104,000. Putnam Investments LLC lifted its position in Franklin Financial Network by 137.6% during the 2nd quarter. Putnam Investments LLC now owns 87,900 shares of the financial services provider’s stock valued at $2,449,000 after acquiring an additional 50,900 shares during the period. Morgan Stanley lifted its position in Franklin Financial Network by 407.9% during the 2nd quarter. Morgan Stanley now owns 62,853 shares of the financial services provider’s stock valued at $1,751,000 after acquiring an additional 50,478 shares during the period. BlackRock Inc. lifted its position in Franklin Financial Network by 2.1% during the 2nd quarter. BlackRock Inc. now owns 1,975,524 shares of the financial services provider’s stock valued at $55,038,000 after acquiring an additional 40,242 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Franklin Financial Network during the 2nd quarter valued at about $621,000. 64.02% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on FSB shares. Zacks Investment Research raised shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Monday, January 6th. Stephens started coverage on shares of Franklin Financial Network in a research report on Monday, November 25th. They set a “buy” rating and a $38.00 price target for the company. Finally, Piper Jaffray Companies cut shares of Franklin Financial Network from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $33.50 to $35.50 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.70.

NYSE:FSB opened at $33.80 on Wednesday. The firm has a market cap of $491.68 million, a P/E ratio of 12.47 and a beta of 1.36. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.97 and a current ratio of 0.99. Franklin Financial Network Inc has a fifty-two week low of $26.06 and a fifty-two week high of $35.49. The firm has a 50-day simple moving average of $34.18 and a two-hundred day simple moving average of $31.10.

Franklin Financial Network (NYSE:FSB) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $33.06 million during the quarter, compared to analyst estimates of $32.58 million. Franklin Financial Network had a net margin of 11.55% and a return on equity of 8.04%. On average, equities research analysts predict that Franklin Financial Network Inc will post 2.16 EPS for the current year.

About Franklin Financial Network

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

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Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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