Franklin Financial Network Inc (NYSE:FSB) Expected to Post Quarterly Sales of $32.58 Million

Wall Street brokerages predict that Franklin Financial Network Inc (NYSE:FSB) will report sales of $32.58 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Franklin Financial Network’s earnings. The highest sales estimate is $33.06 million and the lowest is $32.10 million. Franklin Financial Network posted sales of $30.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.6%. The company is scheduled to report its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Franklin Financial Network will report full-year sales of $129.12 million for the current fiscal year, with estimates ranging from $128.10 million to $130.13 million. For the next financial year, analysts anticipate that the firm will post sales of $138.72 million, with estimates ranging from $138.43 million to $139.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Franklin Financial Network.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $32.29 million for the quarter, compared to the consensus estimate of $32.40 million. Franklin Financial Network had a return on equity of 8.23% and a net margin of 11.40%.



FSB has been the topic of several recent analyst reports. Stephens upgraded Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 price objective on the stock in a report on Friday, July 26th. Raymond James upgraded Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Friday, May 17th. Zacks Investment Research downgraded Franklin Financial Network from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 28th. Finally, ValuEngine upgraded Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.20.

NYSE FSB traded up $0.20 on Monday, hitting $31.87. 59,309 shares of the company were exchanged, compared to its average volume of 73,989. The company’s 50 day moving average price is $28.63 and its 200-day moving average price is $28.62. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $442.11 million, a P/E ratio of 11.76 and a beta of 1.36. Franklin Financial Network has a twelve month low of $25.25 and a twelve month high of $41.50.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.04 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%. Franklin Financial Network’s dividend payout ratio is 5.90%.

In other news, Director James W. Iv Cross sold 2,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $30.16, for a total value of $60,320.00. Following the transaction, the director now owns 29,463 shares in the company, valued at approximately $888,604.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of Franklin Financial Network in the 2nd quarter valued at about $2,104,000. Victory Capital Management Inc. increased its holdings in shares of Franklin Financial Network by 25.3% in the 2nd quarter. Victory Capital Management Inc. now owns 65,290 shares of the financial services provider’s stock valued at $1,819,000 after purchasing an additional 13,190 shares during the period. Morgan Stanley increased its holdings in shares of Franklin Financial Network by 407.9% in the 2nd quarter. Morgan Stanley now owns 62,853 shares of the financial services provider’s stock valued at $1,751,000 after purchasing an additional 50,478 shares during the period. Putnam Investments LLC increased its holdings in shares of Franklin Financial Network by 137.6% in the 2nd quarter. Putnam Investments LLC now owns 87,900 shares of the financial services provider’s stock valued at $2,449,000 after purchasing an additional 50,900 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Franklin Financial Network by 8.4% in the 2nd quarter. Invesco Ltd. now owns 30,215 shares of the financial services provider’s stock valued at $842,000 after buying an additional 2,352 shares in the last quarter. Institutional investors own 64.29% of the company’s stock.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.

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Earnings History and Estimates for Franklin Financial Network (NYSE:FSB)

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