SummerHaven Investment Management LLC Purchases Shares of 21,736 Franklin Financial Services Corp. $FRAF

SummerHaven Investment Management LLC acquired a new position in Franklin Financial Services Corp. (NASDAQ:FRAF) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 21,736 shares of the company’s stock, valued at approximately $1,000,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in Franklin Financial Services during the 1st quarter worth approximately $133,000. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Financial Services during the first quarter valued at approximately $571,000. Empowered Funds LLC grew its holdings in shares of Franklin Financial Services by 3.7% in the first quarter. Empowered Funds LLC now owns 33,474 shares of the company’s stock worth $1,187,000 after purchasing an additional 1,202 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Franklin Financial Services in the first quarter worth $529,000. Finally, Geode Capital Management LLC raised its holdings in Franklin Financial Services by 109.8% during the 2nd quarter. Geode Capital Management LLC now owns 98,224 shares of the company’s stock valued at $3,401,000 after buying an additional 51,407 shares during the last quarter. Institutional investors own 24.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Franklin Financial Services in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

Franklin Financial Services Price Performance

Shares of FRAF stock opened at $48.36 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.91 and a current ratio of 0.91. Franklin Financial Services Corp. has a fifty-two week low of $32.39 and a fifty-two week high of $59.95. The firm has a market cap of $216.60 million, a P/E ratio of 13.82 and a beta of -0.08. The business’s 50 day moving average price is $52.19 and its 200-day moving average price is $47.38.

Franklin Financial Services (NASDAQ:FRAF) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.35 earnings per share for the quarter. Franklin Financial Services had a net margin of 12.34% and a return on equity of 10.11%. The business had revenue of $23.31 million for the quarter.

Franklin Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 6th. Franklin Financial Services’s dividend payout ratio is presently 37.71%.

Insider Buying and Selling

In other Franklin Financial Services news, Director Kimberly Rzomp sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $54.07, for a total value of $81,105.00. Following the completion of the sale, the director directly owned 5,842 shares in the company, valued at $315,876.94. This trade represents a 20.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 7.35% of the stock is owned by company insiders.

About Franklin Financial Services

Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.?listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.