Franklin Financial Network Inc. (FSB) Reaches New 52-Week High at $36.24
Shares of Franklin Financial Network Inc. (NYSE:FSB) hit a new 52-week high during trading on Tuesday . The company traded as high as $36.24 and last traded at $35.92, with a volume of 73,246 shares trading hands. The stock had previously closed at $34.97.
A number of brokerages have commented on FSB. Zacks Investment Research upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, August 1st. Raymond James Financial began coverage on shares of Franklin Financial Network in a research note on Tuesday. They issued an “outperform” rating and a $40.00 price target for the company. Compass Point increased their price objective on shares of Franklin Financial Network from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Finally, Bank of America Corp. lowered shares of Franklin Financial Network from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th.
The firm’s 50-day moving average is $33.19 and its 200 day moving average is $30.17. The company has a market cap of $385.38 million and a P/E ratio of 17.44.
Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. On average, equities research analysts predict that Franklin Financial Network Inc. will post $2.55 EPS for the current fiscal year.
In other Franklin Financial Network news, insider David J. Mcdaniel sold 2,000 shares of the stock in a transaction on 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 transaction, the insider now owns 14,110 shares in the company, valued at $451,520. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jimmy E. Allen sold 2,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $33.90, for a total value of $84,750.00. Following the completion of the transaction, the director now owns 114,374 shares of the company’s stock, valued at approximately $3,877,278.60. The disclosure for this sale can be found here.
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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