Franklin Financial Network (FSB) Stock Rating Lowered by Zacks Investment Research

Franklin Financial Network (NYSE:FSB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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. “

Several other analysts also recently commented on the stock. Piper Jaffray Companies upgraded shares of Franklin Financial Network from a “neutral” rating to an “overweight” rating and set a $38.00 target price for the company in a report on Monday, January 28th. Compass Point downgraded shares of Franklin Financial Network from a “neutral” rating to a “sell” rating in a report on Monday, April 8th. ValuEngine downgraded shares of Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Finally, Hovde Group reiterated a “market perform” rating and issued a $30.00 target price (down previously from $33.00) on shares of Franklin Financial Network in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Franklin Financial Network currently has an average rating of “Hold” and an average target price of $33.80.

Shares of FSB stock traded up $0.39 on Tuesday, hitting $28.23. The stock had a trading volume of 66,700 shares, compared to its average volume of 86,731. The company has a market cap of $405.05 million, a P/E ratio of 10.42 and a beta of 1.51. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.86 and a quick ratio of 0.86. Franklin Financial Network has a 12-month low of $25.25 and a 12-month high of $41.50.

Franklin Financial Network (NYSE:FSB) last announced its earnings results on Wednesday, January 23rd. The financial services provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $26.54 million during the quarter, compared to analysts’ expectations of $31.00 million. Franklin Financial Network had a net margin of 19.11% and a return on equity of 11.69%. As a group, research analysts expect that Franklin Financial Network will post 2.56 earnings per share for the current fiscal year.

In related news, Director Henry W. Jr. Brockman sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $34.55, for a total transaction of $34,550.00. Following the completion of the sale, the director now owns 30,975 shares in the company, valued at $1,070,186.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 2,018 shares of company stock valued at $67,924 in the last 90 days. 11.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in Franklin Financial Network by 6.1% during the third quarter. Bank of New York Mellon Corp now owns 158,619 shares of the financial services provider’s stock worth $6,202,000 after buying an additional 9,129 shares during the last quarter. BlackRock Inc. increased its holdings in Franklin Financial Network by 5.6% during the third quarter. BlackRock Inc. now owns 1,867,326 shares of the financial services provider’s stock worth $73,012,000 after buying an additional 99,452 shares during the last quarter. Vanguard Group Inc increased its holdings in Franklin Financial Network by 15.3% during the third quarter. Vanguard Group Inc now owns 750,693 shares of the financial services provider’s stock worth $29,352,000 after buying an additional 99,436 shares during the last quarter. Rhumbline Advisers increased its holdings in Franklin Financial Network by 22.4% during the fourth quarter. Rhumbline Advisers now owns 35,494 shares of the financial services provider’s stock worth $936,000 after buying an additional 6,504 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Franklin Financial Network during the fourth quarter worth about $266,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

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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