Lbmc Investment Advisors LLC reduced its holdings in Franklin Financial Network Inc (NYSE:FSB) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 17,809 shares of the financial services provider’s stock after selling 583 shares during the quarter. Lbmc Investment Advisors LLC’s holdings in Franklin Financial Network were worth $611,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FSB. BlackRock Inc. increased its position in Franklin Financial Network by 2.1% in the second quarter. BlackRock Inc. now owns 1,975,524 shares of the financial services provider’s stock worth $55,038,000 after purchasing an additional 40,242 shares during the period. Vanguard Group Inc. lifted its holdings in Franklin Financial Network by 1.5% in the second quarter. Vanguard Group Inc. now owns 870,290 shares of the financial services provider’s stock valued at $24,246,000 after buying an additional 13,159 shares during the period. Bank of New York Mellon Corp lifted its holdings in Franklin Financial Network by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 160,492 shares of the financial services provider’s stock valued at $4,471,000 after buying an additional 1,254 shares during the period. Northern Trust Corp boosted its stake in Franklin Financial Network by 3.9% in the second quarter. Northern Trust Corp now owns 160,140 shares of the financial services provider’s stock valued at $4,462,000 after acquiring an additional 6,050 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in Franklin Financial Network by 137.6% in the second quarter. Putnam Investments LLC now owns 87,900 shares of the financial services provider’s stock valued at $2,449,000 after acquiring an additional 50,900 shares during the last quarter. Institutional investors and hedge funds own 64.06% of the company’s stock.
FSB has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a report on Monday. Piper Jaffray Companies lowered Franklin Financial Network from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $33.50 to $35.50 in a research report on Friday, October 25th. Finally, Stephens began coverage on Franklin Financial Network in a research note on Monday, November 25th. They set a “buy” rating and a $38.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.70.
Franklin Financial Network (NYSE:FSB) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. The firm had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $32.36 million. Franklin Financial Network had a return on equity of 8.04% and a net margin of 11.55%. As a group, research analysts expect that Franklin Financial Network Inc will post 2.16 earnings per share for the current fiscal year.
About Franklin Financial Network
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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