Franklin Financial Services (NASDAQ:FRAF) Shares Down 0.2% – Here’s What Happened

Franklin Financial Services Corp. (NASDAQ:FRAF) dropped 0.2% during trading on Monday . The stock traded as low as $61.35 and last traded at $61.95. 19,415 shares traded hands during trading, a decline of 37% from the average daily volume of 30,976 shares. The stock had previously closed at $62.06.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FRAF shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Franklin Financial Services in a research report on Friday, July 24th. Hovde Group increased their price target on shares of Franklin Financial Services from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Finally, Wall Street Zen cut shares of Franklin Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Franklin Financial Services Price Performance

The business has a fifty day moving average price of $62.77 and a 200-day moving average price of $57.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $278.77 million, a PE ratio of 11.28 and a beta of -0.02.

Franklin Financial Services (NASDAQ:FRAF) last announced its quarterly earnings data on Friday, July 24th. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $24.50 million for the quarter, compared to analysts’ expectations of $24.70 million. Franklin Financial Services had a return on equity of 14.00% and a net margin of 18.20%.

Franklin Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, August 7th. Franklin Financial Services’s dividend payout ratio is presently 24.77%.

Institutional Investors Weigh In On Franklin Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of FRAF. Russell Investments Group Ltd. grew its holdings in Franklin Financial Services by 69.2% in the 4th quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock worth $43,000 after acquiring an additional 353 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Franklin Financial Services by 84.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock worth $44,000 after acquiring an additional 434 shares in the last quarter. Legal & General Group Plc purchased a new position in Franklin Financial Services during the second quarter valued at $29,000. Royal Bank of Canada lifted its position in Franklin Financial Services by 5.1% during the 1st quarter. Royal Bank of Canada now owns 10,319 shares of the company’s stock valued at $527,000 after acquiring an additional 502 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Franklin Financial Services by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 64,715 shares of the company’s stock valued at $2,241,000 after purchasing an additional 541 shares during the last quarter. Institutional investors own 24.80% of the company’s stock.

About Franklin Financial Services

Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.‐listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.