JPMorgan Chase & Co. Cuts Stake in Franklin Financial Network, Inc. (FSB)

JPMorgan Chase & Co. lowered its position in Franklin Financial Network, Inc. (NYSE:FSB) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,400 shares of the financial services provider’s stock after selling 2,633 shares during the period. JPMorgan Chase & Co. owned about 1.36% of Franklin Financial Network worth $5,475,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can raised its stake in Franklin Financial Network by 2.6% in the third quarter. Bank of Montreal Can now owns 327,764 shares of the financial services provider’s stock worth $12,258,000 after buying an additional 8,258 shares during the last quarter. James Investment Research Inc. acquired a new stake in Franklin Financial Network during the third quarter worth $1,565,000. Context BH Capital Management LP raised its stake in Franklin Financial Network by 3.2% in the second quarter. Context BH Capital Management LP now owns 51,993 shares of the financial services provider’s stock worth $1,631,000 after buying an additional 1,600 shares during the last quarter. Victory Capital Management Inc. raised its stake in Franklin Financial Network by 16.5% in the second quarter. Victory Capital Management Inc. now owns 24,660 shares of the financial services provider’s stock worth $773,000 after buying an additional 3,490 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Franklin Financial Network during the second quarter worth $792,000. 37.07% of the stock is currently owned by hedge funds and other institutional investors.

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

Franklin Financial Network, Inc. (NYSE:FSB) traded down 0.49% during midday trading on Wednesday, hitting $40.65. 11,163 shares of the stock were exchanged. The stock has a market cap of $437.31 million, a PE ratio of 18.32 and a beta of 1.72. Franklin Financial Network, Inc. has a 1-year low of $22.83 and a 1-year high of $42.80. The company’s 50 day moving average is $39.65 and its 200-day moving average is $35.34.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Tuesday, October 18th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.04. Franklin Financial Network had a return on equity of 12.71% and a net margin of 23.03%. On average, analysts expect that Franklin Financial Network, Inc. will post $2.39 earnings per share for the current year.

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FSB has been the topic of a number of research reports. Zacks Investment Research lowered shares of Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Stephens raised shares of Franklin Financial Network from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 21st. Finally, Piper Jaffray Companies initiated coverage on shares of Franklin Financial Network in a report on Tuesday, November 22nd. They set an “overweight” rating and a $41.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $40.88.

In other news, Director David H. Kemp purchased 2,000 shares of the stock in a transaction dated Monday, November 21st. The shares were purchased at an average cost of $32.00 per share, with a total value of $64,000.00. Following the completion of the acquisition, the director now owns 144,605 shares in the company, valued at approximately $4,627,360. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Herrington purchased 1,000 shares of the stock in a transaction dated Monday, November 21st. The stock was purchased at an average cost of $32.00 per share, for a total transaction of $32,000.00. The disclosure for this purchase can be found here. 12.36% of the stock is currently owned by insiders.

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.

5 Day Chart for NYSE:FSB

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