Franklin Financial Network, Inc. (NYSE:FSB) Shares Bought by American International Group Inc.

American International Group Inc. boosted its stake in shares of Franklin Financial Network, Inc. (NYSE:FSB) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,869 shares of the financial services provider’s stock after buying an additional 1,481 shares during the period. American International Group Inc. owned about 0.05% of Franklin Financial Network worth $266,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in FSB. Bank of Montreal Can increased its position in Franklin Financial Network by 6.9% in the first quarter. Bank of Montreal Can now owns 355,160 shares of the financial services provider’s stock worth $13,763,000 after buying an additional 23,045 shares during the period. AQR Capital Management LLC increased its position in Franklin Financial Network by 162.4% in the fourth quarter. AQR Capital Management LLC now owns 16,228 shares of the financial services provider’s stock worth $679,000 after buying an additional 10,044 shares during the period. Renaissance Technologies LLC increased its position in Franklin Financial Network by 2,276.8% in the fourth quarter. Renaissance Technologies LLC now owns 133,100 shares of the financial services provider’s stock worth $5,570,000 after buying an additional 127,500 shares during the period. Dimensional Fund Advisors LP bought a new position in Franklin Financial Network during the fourth quarter worth $881,000. Finally, State Street Corp increased its position in Franklin Financial Network by 14.6% in the fourth quarter. State Street Corp now owns 162,747 shares of the financial services provider’s stock worth $6,809,000 after buying an additional 20,753 shares during the period. 55.85% of the stock is currently owned by institutional investors.

Franklin Financial Network, Inc. (NYSE FSB) remained flat at $32.30 during midday trading on Friday. 44,683 shares of the stock traded hands. The stock has a 50-day moving average of $37.12 and a 200-day moving average of $38.87. Franklin Financial Network, Inc. has a 52 week low of $29.85 and a 52 week high of $44.30. The firm has a market capitalization of $425.81 million, a P/E ratio of 13.34 and a beta of 1.44.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $28.35 million for the quarter, compared to analysts’ expectations of $30.63 million. Franklin Financial Network had a net margin of 23.50% and a return on equity of 11.80%. On average, analysts forecast that Franklin Financial Network, Inc. will post $2.53 earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Sandler O’Neill began coverage on shares of Franklin Financial Network in a research report on Wednesday, July 12th. They set a “hold” rating and a $43.00 target price on the stock. Hovde Group began coverage on shares of Franklin Financial Network in a research report on Friday, August 4th. They set a “market perform” rating and a $38.00 target price on the stock. BidaskClub downgraded shares of Franklin Financial Network from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies cut shares of Franklin Financial Network from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $41.00 in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.40.

In other news, Director Paul M. Jr. Pratt sold 6,750 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $40.76, for a total value of $275,130.00. Following the sale, the director now directly owns 16,250 shares of the company’s stock, valued at approximately $662,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin A. Herrington sold 1,500 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $40.66, for a total transaction of $60,990.00. Following the completion of the sale, the insider now directly owns 13,260 shares in the company, valued at $539,151.60. The disclosure for this sale can be found here. Insiders sold a total of 9,231 shares of company stock worth $375,698 over the last ninety days. Insiders own 12.36% of the company’s stock.

About Franklin Financial Network

Franklin Financial Network, Inc is a financial holding company. Through its bank subsidiary, Franklin Synergy Bank (the Bank), a commercial bank, the Company provides a range of banking and related financial services. The Company focuses on the provision of services to small businesses, corporate entities, local governments and individuals.

Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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