Franklin Financial Network, Inc. (FSB) Lowered to “Strong Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Franklin Financial Network, Inc. (NYSE:FSB) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning.

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. “

Other equities research analysts have also recently issued reports about the company. Stephens cut Franklin Financial Network from an overweight rating to an equal weight rating and set a $38.00 price objective for the company. in a research note on Tuesday, October 3rd. ValuEngine cut Franklin Financial Network from a buy rating to a hold rating in a research note on Friday, July 28th. Sandler O’Neill started coverage on Franklin Financial Network in a research note on Wednesday, July 12th. They set a hold rating and a $43.00 price objective for the company. Hovde Group started coverage on Franklin Financial Network in a research note on Friday, August 4th. They set a market perform rating and a $38.00 price objective for the company. Finally, Piper Jaffray Companies restated a neutral rating and set a $39.00 price objective (down from $41.50) on shares of Franklin Financial Network in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Franklin Financial Network presently has an average rating of Hold and a consensus target price of $39.50.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The company had revenue of $28.35 million for the quarter, compared to analysts’ expectations of $30.63 million. Franklin Financial Network had a return on equity of 11.80% and a net margin of 23.50%.

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A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Franklin Financial Network by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 490,869 shares of the financial services provider’s stock valued at $20,249,000 after buying an additional 25,062 shares in the last quarter. Northpointe Capital LLC increased its position in Franklin Financial Network by 6.9% during the 2nd quarter. Northpointe Capital LLC now owns 452,585 shares of the financial services provider’s stock valued at $18,669,000 after buying an additional 29,088 shares in the last quarter. Phocas Financial Corp. increased its position in Franklin Financial Network by 314.4% during the 2nd quarter. Phocas Financial Corp. now owns 387,006 shares of the financial services provider’s stock valued at $15,964,000 after buying an additional 293,607 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Franklin Financial Network by 11.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 231,221 shares of the financial services provider’s stock valued at $9,538,000 after buying an additional 24,364 shares in the last quarter. Finally, State Street Corp increased its position in Franklin Financial Network by 15.3% during the 2nd quarter. State Street Corp now owns 205,245 shares of the financial services provider’s stock valued at $8,468,000 after buying an additional 27,161 shares in the last quarter. 59.21% of the stock is currently owned by institutional investors.

About Franklin Financial Network

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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