Franklin Financial Network, Inc. (NYSE:FSB) Receives New Coverage from Analysts at Hovde Group

Hovde Group initiated coverage on shares of Franklin Financial Network, Inc. (NYSE:FSB) in a report released on Friday, August 4th. The firm issued a market perform rating and a $38.00 price objective on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Franklin Financial Network from a hold rating to a buy rating and set a $44.00 price objective on the stock in a report on Wednesday, April 26th. Stephens restated a buy rating on shares of Franklin Financial Network in a research report on Wednesday, April 26th. Sandler O’Neill assumed coverage on Franklin Financial Network in a research report on Wednesday, July 12th. They set a hold rating and a $43.00 price target on the stock. ValuEngine lowered Franklin Financial Network from a buy rating to a hold rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies lowered Franklin Financial Network from an overweight rating to a neutral rating and reduced their price target for the stock from $45.00 to $41.00 in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Franklin Financial Network currently has an average rating of Hold and a consensus price target of $41.40.

Shares of Franklin Financial Network (FSB) remained flat at $32.30 during trading on Friday. 44,683 shares of the company’s stock traded hands. The stock’s 50-day moving average is $37.12 and its 200-day moving average is $38.87. Franklin Financial Network has a one year low of $29.85 and a one year high of $44.30. The company has a market cap of $425.81 million, a P/E ratio of 13.34 and a beta of 1.44.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. The firm 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%. Analysts predict that Franklin Financial Network will post $2.53 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Franklin Financial Network, Inc. (NYSE:FSB) Receives New Coverage from Analysts at Hovde Group” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://www.baseball-news-blog.com/2017/08/19/hovde-group-begins-coverage-on-franklin-financial-network-inc-nysefsb-updated.html.

In other Franklin Financial Network news, insider Kevin A. Herrington sold 1,500 shares of Franklin Financial Network stock in a transaction on 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 transaction, the insider now owns 13,260 shares in the company, valued at $539,151.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally P. Kimble sold 710 shares of Franklin Financial Network stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $40.06, for a total value of $28,442.60. Following the transaction, the insider now owns 15,364 shares of the company’s stock, valued at approximately $615,481.84. The disclosure for this sale can be found here. Insiders have sold 9,231 shares of company stock worth $375,698 over the last 90 days. 12.36% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of FSB. Legal & General Group Plc boosted its position in Franklin Financial Network by 1.1% in the first quarter. Legal & General Group Plc now owns 2,814 shares of the financial services provider’s stock valued at $109,000 after buying an additional 30 shares in the last quarter. Alps Advisors Inc. boosted its position in Franklin Financial Network by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,837 shares of the financial services provider’s stock valued at $530,000 after buying an additional 33 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Franklin Financial Network by 1.0% in the first quarter. Nuveen Asset Management LLC now owns 6,869 shares of the financial services provider’s stock valued at $266,000 after buying an additional 65 shares in the last quarter. Greenwood Capital Associates LLC boosted its position in Franklin Financial Network by 2.0% in the second quarter. Greenwood Capital Associates LLC now owns 18,642 shares of the financial services provider’s stock valued at $769,000 after buying an additional 361 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Franklin Financial Network by 4.4% in the second quarter. The Manufacturers Life Insurance Company now owns 9,497 shares of the financial services provider’s stock valued at $392,000 after buying an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Franklin Financial Network Company Profile

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.

Analyst Recommendations for Franklin Financial Network (NYSE:FSB)

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

Latest News

Leave a Reply