Franklin Financial Network (NYSE:FSB) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a buy rating in a research note released on Monday, Zacks.com reports. They currently have $26.00 target price on the financial services provider’s stock.

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. “

Separately, ValuEngine lowered Franklin Financial Network from a hold rating to a sell rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Franklin Financial Network presently has a consensus rating of Hold and an average price target of $33.88.

Shares of FSB opened at $25.63 on Monday. Franklin Financial Network has a twelve month low of $14.86 and a twelve month high of $39.00. The stock’s 50 day moving average is $22.39 and its two-hundred day moving average is $29.88. The firm has a market capitalization of $373.43 million, a PE ratio of 15.53 and a beta of 1.60. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported ($0.04) earnings per share for the quarter. Franklin Financial Network had a net margin of 12.59% and a return on equity of 6.31%. The business had revenue of $33.36 million during the quarter. On average, sell-side analysts predict that Franklin Financial Network will post 2.67 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, May 14th. Franklin Financial Network’s dividend payout ratio (DPR) is 11.11%.

Several large investors have recently made changes to their positions in FSB. New York State Teachers Retirement System boosted its stake in shares of Franklin Financial Network by 135.4% during the 4th quarter. New York State Teachers Retirement System now owns 12,047 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 6,930 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Franklin Financial Network by 156.2% during the 4th quarter. California Public Employees Retirement System now owns 35,549 shares of the financial services provider’s stock worth $1,220,000 after acquiring an additional 21,671 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Franklin Financial Network by 8.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 4,030 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 300 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Franklin Financial Network during the 4th quarter worth approximately $376,000. Finally, Buckingham Asset Management LLC purchased a new stake in shares of Franklin Financial Network during the 4th quarter worth approximately $208,000. 63.98% of the stock is currently owned by institutional investors and hedge funds.

About Franklin Financial Network

Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.

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