Sandler O’Neill upgraded shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a buy rating in a research note released on Thursday. They currently have $42.00 target price on the financial services provider’s stock.
Several other brokerages have also recently commented on FSB. Compass Point reiterated a buy rating and issued a $43.00 price target (down from $47.00) on shares of Franklin Financial Network in a research report on Friday, October 13th. Zacks Investment Research cut shares of Franklin Financial Network from a hold rating to a strong sell rating in a research report on Thursday, October 12th. Stephens cut shares of Franklin Financial Network from an overweight rating to an equal weight rating and set a $38.00 price target on the stock. in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a neutral rating and issued a $39.00 price target (down from $41.50) on shares of Franklin Financial Network in a research report on Thursday, October 5th. Finally, ValuEngine upgraded shares of Franklin Financial Network from a hold rating to a buy rating in a research report on Saturday, October 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $40.00.
Shares of Franklin Financial Network (NYSE FSB) traded up $0.15 during trading on Thursday, reaching $33.95. 149,100 shares of the company’s stock traded hands, compared to its average volume of 120,900. 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 12-month low of $30.30 and a 12-month high of $44.30. The company has a market capitalization of $446.69, a PE ratio of 13.86, a PEG ratio of 1.20 and a beta of 1.41.
In other Franklin Financial Network news, insider David J. Mcdaniel sold 900 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $33.81, for a total transaction of $30,429.00. Following the sale, the insider now owns 14,149 shares in the company, valued at approximately $478,377.69. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.56% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial For Lutherans acquired a new stake in Franklin Financial Network during the 2nd quarter worth about $342,000. Bank of New York Mellon Corp raised its holdings in Franklin Financial Network by 65.8% during the 2nd 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 during the period. Swiss National Bank acquired a new stake in Franklin Financial Network during the 2nd quarter worth about $850,000. JCSD Capital LLC raised its holdings in Franklin Financial Network by 30.8% during the 3rd 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 during the period. Finally, Royce & Associates LP raised its holdings in Franklin Financial Network by 15.8% during the 2nd 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 during the period. Hedge funds and other institutional investors own 54.91% of the company’s stock.
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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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