Franklin Financial Network, Inc. (NYSE:FSB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Franklin Financial Network, Inc. (NYSE:FSB) from a buy rating to a hold rating in a research report released on Monday, July 3rd.

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. “

Separately, Stephens reissued a buy rating on shares of Franklin Financial Network in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $42.25.

Shares of Franklin Financial Network (NYSE FSB) traded down 3.73% during mid-day trading on Monday, reaching $34.80. The company’s stock had a trading volume of 213,253 shares. Franklin Financial Network has a 12 month low of $29.85 and a 12 month high of $44.30. The company has a 50-day moving average of $40.28 and a 200-day moving average of $39.56. The firm has a market cap of $458.70 million, a PE ratio of 14.37 and a beta of 1.55.

Franklin Financial Network (NYSE:FSB) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. The business 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 12.26% and a net margin of 23.50%. On average, analysts predict that Franklin Financial Network will post $2.62 earnings per share for the current year.

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In other Franklin Financial Network news, Director Henry W. Jr. Brockman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $43.07, for a total transaction of $129,210.00. Following the completion of the transaction, the director now owns 28,800 shares in the company, valued at $1,240,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jimmy E. Allen sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $43.63, for a total value of $436,300.00. Following the transaction, the director now owns 104,374 shares of the company’s stock, valued at approximately $4,553,837.62. The disclosure for this sale can be found here. Insiders sold 24,131 shares of company stock worth $1,017,746 over the last 90 days. Company insiders own 12.36% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new stake in shares of Franklin Financial Network during the fourth quarter worth about $1,869,000. Bank of Montreal Can raised its stake in shares of Franklin Financial Network by 6.9% in the first quarter. Bank of Montreal Can now owns 355,160 shares of the financial services provider’s stock worth $13,763,000 after buying an additional 23,045 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Franklin Financial Network by 162.4% in the fourth quarter. AQR Capital Management LLC now owns 16,228 shares of the financial services provider’s stock worth $679,000 after buying an additional 10,044 shares during the last quarter. Two Sigma Investments LP raised its stake in Franklin Financial Network by 10.6% in the fourth quarter. Two Sigma Investments LP now owns 43,841 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 4,205 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Franklin Financial Network by 2,276.8% in the fourth quarter. Renaissance Technologies LLC now owns 133,100 shares of the financial services provider’s stock worth $5,570,000 after buying an additional 127,500 shares in the last quarter. Hedge funds and other institutional investors own 55.93% of the company’s stock.

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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