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

Zacks Investment Research upgraded shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $41.00 price objective 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. “

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

Shares of Franklin Financial Network (NYSE FSB) traded up $0.85 during trading hours on Tuesday, hitting $37.70. 75,743 shares of the company were exchanged, compared to its average volume of 105,257. Franklin Financial Network has a fifty-two week low of $30.30 and a fifty-two week high of $44.30. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $489.64, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.41.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Franklin Financial Network had a net margin of 23.70% and a return on equity of 11.48%. The business had revenue of $27.90 million for the quarter, compared to analyst estimates of $30.97 million. 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 Franklin Financial Network stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $33.81, for a total value of $30,429.00. Following the sale, the insider now directly owns 14,149 shares in the company, valued at approximately $478,377.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.56% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of FSB. Rhumbline Advisers increased its stake in Franklin Financial Network by 13.2% in the 2nd quarter. Rhumbline Advisers now owns 13,237 shares of the financial services provider’s stock valued at $546,000 after buying an additional 1,545 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Franklin Financial Network by 65.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,635 shares of the financial services provider’s stock valued at $3,738,000 after buying an additional 35,961 shares during the last quarter. Prudential Financial Inc. increased its stake in Franklin Financial Network by 192.6% in the 2nd quarter. Prudential Financial Inc. now owns 27,224 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 17,920 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Franklin Financial Network in the 2nd quarter valued at $293,000. Finally, Swiss National Bank acquired a new stake in Franklin Financial Network in the 2nd quarter valued at $850,000. Hedge funds and other institutional investors own 54.91% of the company’s stock.

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Franklin Financial Network Company 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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