Franklin Financial Network (NYSE:FSB) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Franklin Financial Network (NYSE:FSB) from a strong sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “

A number of other research firms also recently issued reports on FSB. Sandler O’Neill downgraded Franklin Financial Network from a buy rating to a hold rating in a report on Friday, September 13th. Stephens upgraded Franklin Financial Network from an equal rating to a weight rating and set a $34.00 price objective for the company in a report on Friday, July 26th. Finally, ValuEngine upgraded Franklin Financial Network from a sell rating to a hold rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $33.20.

Shares of NYSE:FSB traded up $0.31 during mid-day trading on Wednesday, reaching $29.98. 62,078 shares of the stock were exchanged, compared to its average volume of 71,524. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.16. The company has a market cap of $438.61 million, a P/E ratio of 11.06 and a beta of 1.36. Franklin Financial Network has a one year low of $25.25 and a one year high of $40.53. The stock’s 50 day simple moving average is $29.59 and its 200-day simple moving average is $28.47.

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 Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $32.29 million during 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%. Analysts anticipate that Franklin Financial Network will post 2 EPS for the current fiscal year.

In other Franklin Financial Network news, Director James W. Iv Cross sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $30.16, for a total value of $60,320.00. Following the completion of the transaction, the director now directly owns 29,463 shares in the company, valued at $888,604.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Franklin Financial Network by 2.1% during the 2nd quarter. BlackRock Inc. now owns 1,975,524 shares of the financial services provider’s stock worth $55,038,000 after acquiring an additional 40,242 shares during the period. Vanguard Group Inc. boosted its stake in shares of Franklin Financial Network by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 870,290 shares of the financial services provider’s stock worth $24,246,000 after acquiring an additional 13,159 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Franklin Financial Network by 7.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 751,678 shares of the financial services provider’s stock worth $19,822,000 after acquiring an additional 55,256 shares during the period. Context BH Capital Management LP boosted its stake in shares of Franklin Financial Network by 7.6% during the 2nd quarter. Context BH Capital Management LP now owns 569,304 shares of the financial services provider’s stock worth $15,861,000 after acquiring an additional 40,232 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Franklin Financial Network by 8.1% during the 2nd quarter. Foundry Partners LLC now owns 229,985 shares of the financial services provider’s stock worth $6,407,000 after acquiring an additional 17,255 shares during the period. Hedge funds and other institutional investors own 64.31% 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.

Featured Article: Why is the ex-dividend date different from the record date?

Get a free copy of the Zacks research report on Franklin Financial Network (FSB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Franklin Financial Network (NYSE:FSB)

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