Bank of America Corp DE cut its position in Franklin Financial Network, Inc. (NYSE:FSB) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,549 shares of the financial services provider’s stock after selling 20,202 shares during the period. Bank of America Corp DE’s holdings in Franklin Financial Network were worth $3,277,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Franklin Financial Network by 10.1% in the first quarter. Vanguard Group Inc. now owns 465,807 shares of the financial services provider’s stock worth $18,049,000 after buying an additional 42,871 shares during the last quarter. 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. Raymond James Financial Services Advisors Inc. raised its stake in shares of Franklin Financial Network by 11.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 206,857 shares of the financial services provider’s stock worth $8,016,000 after buying an additional 21,596 shares during the last quarter. State Street Corp raised its stake in shares of Franklin Financial Network by 14.6% in the fourth quarter. State Street Corp now owns 162,747 shares of the financial services provider’s stock worth $6,809,000 after buying an additional 20,753 shares during the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Franklin Financial Network by 41.6% in the first quarter. Monarch Partners Asset Management LLC now owns 162,262 shares of the financial services provider’s stock worth $6,288,000 after buying an additional 47,645 shares during the last quarter. 56.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Franklin Financial Network, Inc. (NYSE FSB) traded up 3.37% during mid-day trading on Friday, reaching $35.25. The company’s stock had a trading volume of 60,817 shares. The company has a market capitalization of $464.63 million, a PE ratio of 14.55 and a beta of 1.44. The firm’s 50 day moving average is $39.87 and its 200-day moving average is $39.45. Franklin Financial Network, Inc. has a 52-week low of $29.85 and a 52-week high of $44.30.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. The business had revenue of $28.35 million for the quarter, compared to analyst estimates of $30.63 million. Franklin Financial Network had a net margin of 23.50% and a return on equity of 12.26%. Analysts forecast that Franklin Financial Network, Inc. will post $2.56 EPS for the current year.

WARNING: This news story was posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark and copyright legislation. The original version of this news story can be read at https://www.dailypolitical.com/2017/08/06/franklin-financial-network-inc-fsb-shares-sold-by-bank-of-america-corp-de.html.

A number of analysts have issued reports on FSB shares. ValuEngine lowered Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub lowered Franklin Financial Network from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Stephens reissued a “buy” rating on shares of Franklin Financial Network in a research note on Wednesday, April 26th. Finally, Piper Jaffray Companies lowered Franklin Financial Network from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $41.00 in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $41.40.

In other Franklin Financial Network news, Director Jimmy E. Allen sold 10,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was 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 in the company, valued at $4,553,837.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul M. Jr. Pratt sold 6,750 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $40.76, for a total value of $275,130.00. Following the completion of the transaction, the director now owns 16,250 shares in the company, valued at approximately $662,350. The disclosure for this sale can be found here. Insiders have sold 21,131 shares of company stock worth $888,536 over the last three months. 12.36% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding FSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Financial Network, Inc. (NYSE:FSB).

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

Receive News & Ratings for Franklin Financial Network Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Financial Network Inc. and related companies with MarketBeat.com's FREE daily email newsletter.