Sandler O’Neill Initiates Coverage on Franklin Financial Network, Inc. (FSB)

Research analysts at Sandler O’Neill initiated coverage on shares of Franklin Financial Network, Inc. (NYSE:FSB) in a research note issued to investors on Wednesday, July 12th, Marketbeat reports. The brokerage set a “hold” rating and a $43.00 price target on the financial services provider’s stock. Sandler O’Neill’s price objective indicates a potential upside of 33.13% from the company’s current price.

FSB has been the topic of a number of other research reports. Zacks Investment Research raised shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, June 28th. Stephens reaffirmed a “buy” rating on shares of Franklin Financial Network in a report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $41.40.

Shares of Franklin Financial Network (NYSE:FSB) opened at 32.30 on Wednesday. The company has a market capitalization of $425.75 million, a PE ratio of 13.34 and a beta of 1.44. The stock has a 50 day moving average of $38.23 and a 200-day moving average of $39.11. Franklin Financial Network has a one year low of $29.85 and a one year high of $44.30.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Franklin Financial Network will post $2.53 earnings per share for the current fiscal year.

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In other Franklin Financial Network news, insider Sally P. Kimble sold 710 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $40.06, for a total transaction of $28,442.60. Following the sale, the insider now owns 15,364 shares in the company, valued at approximately $615,481.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David J. Mcdaniel sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $40.22, for a total transaction of $36,198.00. Following the sale, the insider now owns 14,149 shares in the company, valued at approximately $569,072.78. The disclosure for this sale can be found here. In the last three months, insiders sold 11,131 shares of company stock worth $452,236. 12.36% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in FSB. Legal & General Group Plc boosted its stake 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 worth $109,000 after buying an additional 30 shares during the last quarter. Citigroup Inc. boosted its stake in Franklin Financial Network by 3,009.2% in the second quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock worth $125,000 after buying an additional 2,949 shares during the last quarter. Menta Capital LLC purchased a new stake in Franklin Financial Network during the first quarter worth approximately $252,000. American International Group Inc. boosted its stake in Franklin Financial Network by 27.5% in the first quarter. American International Group Inc. now owns 6,869 shares of the financial services provider’s stock worth $266,000 after buying an additional 1,481 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake 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 worth $266,000 after buying an additional 65 shares during the last quarter. Institutional investors own 55.33% 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.

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