SummerHaven Investment Management LLC Invests $1 Million in Franklin Financial Services Corp. $FRAF

SummerHaven Investment Management LLC acquired a new stake in shares of Franklin Financial Services Corp. (NASDAQ:FRAF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,736 shares of the company’s stock, valued at approximately $1,000,000. SummerHaven Investment Management LLC owned 0.49% of Franklin Financial Services at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new stake in Franklin Financial Services during the second quarter valued at about $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Franklin Financial Services during the 2nd quarter valued at approximately $79,000. New York State Common Retirement Fund bought a new position in Franklin Financial Services in the 2nd quarter worth approximately $100,000. Cubist Systematic Strategies LLC purchased a new position in Franklin Financial Services in the 1st quarter valued at approximately $133,000. Finally, Bank of America Corp DE grew its stake in Franklin Financial Services by 66.6% in the 2nd quarter. Bank of America Corp DE now owns 4,549 shares of the company’s stock valued at $158,000 after buying an additional 1,819 shares in the last quarter. 24.80% of the stock is owned by hedge funds and other institutional investors.

Franklin Financial Services Stock Performance

Shares of FRAF opened at $48.36 on Wednesday. Franklin Financial Services Corp. has a 12-month low of $32.39 and a 12-month high of $59.95. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.20. The company has a market cap of $216.60 million, a PE ratio of 13.82 and a beta of -0.08. The stock has a 50-day moving average price of $52.19 and a 200-day moving average price of $47.38.

Franklin Financial Services (NASDAQ:FRAF) last announced its earnings results on Tuesday, January 27th. The company reported $1.35 earnings per share (EPS) for the quarter. The business had revenue of $23.31 million during the quarter. Franklin Financial Services had a net margin of 12.34% and a return on equity of 10.11%.

Franklin Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, February 6th. Franklin Financial Services’s dividend payout ratio is presently 37.71%.

Insider Activity at Franklin Financial Services

In related news, Director Kimberly Rzomp sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $54.07, for a total transaction of $81,105.00. Following the transaction, the director directly owned 5,842 shares of the company’s stock, valued at approximately $315,876.94. This trade represents a 20.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Franklin Financial Services in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Franklin Financial Services Profile

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.