Franklin Financial Network Inc. (FSB) Shares Up 2.1%
Franklin Financial Network Inc. (NYSE:FSB) shares shot up 2.1% during trading on Wednesday . The stock traded as high as $33.39 and last traded at $33.04, with a volume of 53,207 shares. The stock had previously closed at $32.36.
Several brokerages recently commented on FSB. Zacks Investment Research raised Franklin Financial Network from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, August 1st. Compass Point increased their price objective on Franklin Financial Network from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. lowered Franklin Financial Network from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th.
The company has a market capitalization of $357.98 million and a PE ratio of 16.20. The stock has a 50-day moving average of $32.75 and a 200-day moving average of $29.80.
Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Equities research analysts anticipate that Franklin Financial Network Inc. will post $2.55 EPS for the current fiscal year.
In other news, insider David J. Mcdaniel sold 2,000 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $32.00, for a total value of $64,000.00. Following the completion of the sale, the insider now owns 14,110 shares of the company’s stock, valued at $451,520. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry W. Jr. Brockman sold 1,500 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $31.45, for a total value of $47,175.00. Following the completion of the sale, the director now directly owns 48,300 shares of the company’s stock, valued at approximately $1,519,035. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Franklin Financial Network stock. Bank of Montreal Can raised its stake in shares of Franklin Financial Network Inc. (NYSE:FSB) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,759 shares of the financial services provider’s stock after buying an additional 14,295 shares during the period. Bank of Montreal Can owned approximately 3.63% of Franklin Financial Network worth $12,042,000 at the end of the most recent quarter.
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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