Franklin Financial Network (FSB) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Franklin Financial Network, Inc. is a bank holding company for Franklin Synergy Bank. The Company provides banking and financial services to small businesses, corporate entities, local Governments and individuals. It offers demand, savings, checking, NOW deposit accounts, certificates of deposit, money market deposit accounts, commercial and residential construction, commercial and installment loans, lines secured by home equity and mortgage loans as well as compliance consulting services. The company operates primarily in Brentwood, Spring Hill and the Cool Springs; the Westhaven and Berry Farms communities of Franklin, Tennessee. Franklin Financial Network, Inc. is headquartered in Franklin, Tennessee. “

FSB has been the topic of several other reports. ValuEngine raised shares of Franklin Financial Network from a hold rating to a buy rating in a report on Saturday, October 21st. Piper Jaffray Companies reaffirmed a neutral rating and set a $39.00 price objective (down from $41.50) on shares of Franklin Financial Network in a report on Thursday, October 5th. Stephens downgraded shares of Franklin Financial Network from an overweight rating to an equal weight rating and set a $38.00 price objective on the stock. in a report on Tuesday, October 3rd. Finally, Compass Point reaffirmed a buy rating and set a $43.00 price objective (down from $47.00) on shares of Franklin Financial Network in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $40.20.

Shares of Franklin Financial Network (NYSE:FSB) opened at $34.20 on Tuesday. The company has a market cap of $448.01, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.38 and a beta of 0.91. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.30. Franklin Financial Network has a 52-week low of $30.30 and a 52-week high of $44.30.

Franklin Financial Network (NYSE:FSB) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company had revenue of $27.90 million for the quarter, compared to analyst estimates of $30.97 million. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. equities analysts expect that Franklin Financial Network will post 2.49 EPS for the current year.

In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $33.81, for a total transaction of $30,429.00. Following the transaction, the insider now directly owns 14,149 shares of the company’s stock, valued at $478,377.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.56% of the company’s stock.

Large investors have recently bought and sold shares of the company. Thrivent Financial For Lutherans purchased a new position in shares of Franklin Financial Network in the second quarter worth about $342,000. Bank of New York Mellon Corp lifted its stake in shares of Franklin Financial Network by 65.8% in the second quarter. Bank of New York Mellon Corp now owns 90,635 shares of the financial services provider’s stock worth $3,738,000 after buying an additional 35,961 shares in the last quarter. Swiss National Bank purchased a new position in shares of Franklin Financial Network in the second quarter worth about $850,000. JCSD Capital LLC lifted its stake in shares of Franklin Financial Network by 30.8% in the third quarter. JCSD Capital LLC now owns 235,403 shares of the financial services provider’s stock worth $8,392,000 after buying an additional 55,403 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Franklin Financial Network by 15.8% in the second quarter. Royce & Associates LP now owns 61,400 shares of the financial services provider’s stock worth $2,533,000 after buying an additional 8,400 shares in the last quarter. 54.91% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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