New York State Common Retirement Fund Sells 50,795 Shares of Franklin Financial Network Inc (FSB)

New York State Common Retirement Fund lowered its holdings in shares of Franklin Financial Network Inc (NYSE:FSB) by 57.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,125 shares of the financial services provider’s stock after selling 50,795 shares during the period. New York State Common Retirement Fund owned 0.29% of Franklin Financial Network worth $1,359,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Thrivent Financial For Lutherans acquired a new stake in shares of Franklin Financial Network in the 2nd quarter worth $342,000. Bank of New York Mellon Corp lifted its stake in shares of Franklin Financial Network by 65.8% in the second quarter. Bank of New York Mellon Corp now owns 90,635 shares of the financial services provider’s stock valued at $3,738,000 after purchasing an additional 35,961 shares during the period. Swiss National Bank acquired a new stake in shares of Franklin Financial Network in the second quarter valued at about $850,000. JCSD Capital LLC lifted its stake in shares of Franklin Financial Network by 30.8% in the third quarter. JCSD Capital LLC now owns 235,403 shares of the financial services provider’s stock valued at $8,392,000 after purchasing an additional 55,403 shares during the period. Finally, Royce & Associates LP lifted its stake in shares of Franklin Financial Network by 15.8% in the second quarter. Royce & Associates LP now owns 61,400 shares of the financial services provider’s stock valued at $2,533,000 after purchasing an additional 8,400 shares during the period. Hedge funds and other institutional investors own 54.91% of the company’s stock.

Franklin Financial Network Inc (NYSE FSB) opened at $33.80 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.30. Franklin Financial Network Inc has a twelve month low of $30.30 and a twelve month high of $44.30. The firm has a market cap of $446.69, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41.

Franklin Financial Network (NYSE:FSB) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. The firm had revenue of $27.90 million during the quarter, compared to the consensus estimate of $30.97 million. equities research analysts anticipate that Franklin Financial Network Inc will post 2.49 earnings per share for the current fiscal year.

In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $33.81, for a total transaction of $30,429.00. Following the completion of the transaction, the insider now directly owns 14,149 shares in the company, valued at approximately $478,377.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.56% of the company’s stock.

Several analysts recently commented on FSB shares. ValuEngine upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating in a research note on Saturday, October 21st. Compass Point reiterated a “buy” rating and issued a $43.00 price objective (down previously from $47.00) on shares of Franklin Financial Network in a research note on Friday, October 13th. Stephens cut shares of 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. Zacks Investment Research upgraded shares of Franklin Financial Network from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $39.00 price objective (down previously from $41.50) on shares of Franklin Financial Network in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.20.

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Franklin Financial Network Company Profile

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

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