Franklin Financial Network (FSB) Lifted to “Buy” at Zacks Investment Research

Franklin Financial Network (NYSE:FSB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $41.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 10.66% from the company’s current price.

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. “

A number of other research firms also recently issued reports on FSB. Stephens downgraded shares of Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 target price for the company. in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. Piper Jaffray Companies restated a “neutral” rating and set a $39.00 target price (down from $41.50) on shares of Franklin Financial Network in a research report on Thursday, October 5th. Compass Point restated a “buy” rating and set a $43.00 target price (down from $47.00) on shares of Franklin Financial Network in a research report on Friday, October 13th. Finally, Sandler O’Neill upgraded shares of Franklin Financial Network from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Franklin Financial Network currently has an average rating of “Hold” and a consensus price target of $40.17.

Franklin Financial Network (NYSE:FSB) traded up $0.65 during midday trading on Tuesday, reaching $37.05. 62,400 shares of the company were exchanged, compared to its average volume of 110,782. The firm has a market capitalization of $481.05, a P/E ratio of 15.12, a PEG ratio of 1.20 and a beta of 1.41. Franklin Financial Network has a 52 week low of $30.30 and a 52 week high of $44.30. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 1.30.

Franklin Financial Network (NYSE:FSB) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $27.90 million during the quarter, compared to the consensus estimate of $30.97 million. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. equities analysts predict that Franklin Financial Network will post 2.48 earnings per share for the current year.

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

Several institutional investors have recently modified their holdings of FSB. Phocas Financial Corp. raised its position in shares of Franklin Financial Network by 314.4% during the 2nd quarter. Phocas Financial Corp. now owns 387,006 shares of the financial services provider’s stock worth $15,964,000 after purchasing an additional 293,607 shares during the last quarter. EAM Investors LLC raised its position in shares of Franklin Financial Network by 220.7% during the 2nd quarter. EAM Investors LLC now owns 120,605 shares of the financial services provider’s stock worth $4,975,000 after purchasing an additional 83,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Franklin Financial Network by 56.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 200,943 shares of the financial services provider’s stock worth $7,164,000 after purchasing an additional 72,126 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Franklin Financial Network by 356.5% during the 2nd quarter. New York State Common Retirement Fund now owns 88,920 shares of the financial services provider’s stock worth $3,668,000 after purchasing an additional 69,443 shares during the last quarter. Finally, JCSD Capital LLC raised its position in shares of 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 purchasing an additional 55,403 shares during the last quarter. Institutional investors and hedge funds 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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