Rhumbline Advisers Reduces Position in Franklin Financial Network Inc (FSB)

Rhumbline Advisers reduced its position in shares of Franklin Financial Network Inc (NYSE:FSB) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,194 shares of the financial services provider’s stock after selling 2,153 shares during the period. Rhumbline Advisers owned about 0.08% of Franklin Financial Network worth $382,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Franklin Financial Network by 7.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 24,855 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 1,691 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Franklin Financial Network by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 39,568 shares of the financial services provider’s stock valued at $1,349,000 after acquiring an additional 2,068 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Franklin Financial Network by 11.9% during the 3rd quarter. Prudential Financial Inc. now owns 30,464 shares of the financial services provider’s stock valued at $1,086,000 after acquiring an additional 3,240 shares in the last quarter. Greenwood Capital Associates LLC raised its position in shares of Franklin Financial Network by 16.9% during the 4th quarter. Greenwood Capital Associates LLC now owns 22,540 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 3,254 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Franklin Financial Network by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 21,264 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 4,832 shares in the last quarter. 55.73% of the stock is currently owned by institutional investors and hedge funds.

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In related news, Director James W. Iv Cross sold 3,525 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $32.66, for a total transaction of $115,126.50. Following the completion of the transaction, the director now directly owns 21,450 shares in the company, valued at approximately $700,557. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin A. Herrington sold 1,000 shares of the company’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $33.57, for a total value of $33,570.00. The disclosure for this sale can be found here. 10.56% of the stock is owned by corporate insiders.

Several research firms recently issued reports on FSB. Zacks Investment Research raised Franklin Financial Network from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. UBS lowered Franklin Financial Network from an “outperform” rating to a “market perform” rating in a research report on Friday, January 26th. ValuEngine lowered Franklin Financial Network from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Piper Jaffray reissued a “hold” rating and set a $35.00 price target on shares of Franklin Financial Network in a research report on Sunday, January 28th. Finally, Raymond James Financial restated a “market perform” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $39.67.

Shares of FSB opened at $32.10 on Friday. The firm has a market cap of $425.42, a P/E ratio of 13.26, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.08. Franklin Financial Network Inc has a 12 month low of $30.30 and a 12 month high of $44.30.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.08). The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $30.20 million. Franklin Financial Network had a return on equity of 11.32% and a net margin of 19.08%. equities analysts forecast that Franklin Financial Network Inc will post 2.88 earnings per share for the current fiscal year.

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Franklin Financial Network Profile

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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Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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