Franklin Financial Network (FSB) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Franklin Financial Network (NYSE:FSB) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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 topic of several other research reports. Compass Point raised shares of Franklin Financial Network from a sell rating to a neutral rating in a report on Thursday, July 26th. ValuEngine raised shares of Franklin Financial Network from a sell rating to a hold rating in a report on Saturday, July 28th. Piper Jaffray Companies reissued a hold rating and issued a $39.00 price target on shares of Franklin Financial Network in a report on Monday, July 30th. Finally, Stephens reissued a hold rating and issued a $33.00 price target on shares of Franklin Financial Network in a report on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $38.40.

FSB stock opened at $34.20 on Tuesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.80. Franklin Financial Network has a 52 week low of $30.80 and a 52 week high of $41.50. The firm has a market cap of $479.83 million, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Franklin Financial Network (NYSE:FSB) last released its earnings results on Wednesday, October 24th. The financial services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Franklin Financial Network had a net margin of 19.13% and a return on equity of 11.85%. The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $31.30 million. Research analysts expect that Franklin Financial Network will post 2.78 earnings per share for the current year.

In other Franklin Financial Network news, CFO Sarah L. Meyerrose sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $38.50, for a total value of $77,000.00. Following the sale, the chief financial officer now owns 7,255 shares of the company’s stock, valued at approximately $279,317.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $38.87, for a total transaction of $34,983.00. Following the completion of the sale, the insider now directly owns 15,421 shares in the company, valued at approximately $599,414.27. The disclosure for this sale can be found here. 11.40% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in FSB. BlackRock Inc. boosted its stake in shares of Franklin Financial Network by 132.4% during the 2nd quarter. BlackRock Inc. now owns 1,767,874 shares of the financial services provider’s stock valued at $66,473,000 after purchasing an additional 1,007,023 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Franklin Financial Network by 28.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 581,247 shares of the financial services provider’s stock valued at $21,855,000 after purchasing an additional 127,937 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Franklin Financial Network during the 2nd quarter valued at about $15,718,000. Royce & Associates LP boosted its stake in shares of Franklin Financial Network by 164.0% during the 2nd quarter. Royce & Associates LP now owns 268,640 shares of the financial services provider’s stock valued at $10,101,000 after purchasing an additional 166,895 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Franklin Financial Network by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 218,878 shares of the financial services provider’s stock valued at $8,230,000 after purchasing an additional 3,246 shares in the last quarter. 64.26% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Financial Network

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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