Zacks Investment Research Lowers Franklin Financial Network (FSB) to Strong Sell

Zacks Investment Research lowered shares of Franklin Financial Network (NYSE:FSB) from a hold rating to a strong sell rating in a research note published on Tuesday morning, Zacks.com reports.

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 equities analysts have also commented on the stock. Raymond James raised shares of Franklin Financial Network from a market perform rating to an outperform rating and set a $32.00 price target on the stock in a research report on Friday, May 17th. Stephens reissued a hold rating and issued a $38.00 price target on shares of Franklin Financial Network in a research report on Thursday, April 25th. ValuEngine raised shares of Franklin Financial Network from a sell rating to a hold rating in a research report on Tuesday, January 29th. Piper Jaffray Companies raised shares of Franklin Financial Network from a neutral rating to an overweight rating and set a $38.00 price target on the stock in a research report on Monday, January 28th. Finally, Hovde Group reissued a market perform rating and issued a $30.00 price target (down previously from $33.00) on shares of Franklin Financial Network in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Franklin Financial Network has a consensus rating of Hold and a consensus price target of $34.33.

Shares of FSB opened at $27.18 on Tuesday. The company has a market cap of $409.35 million, a P/E ratio of 10.03 and a beta of 1.45. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. Franklin Financial Network has a twelve month low of $25.25 and a twelve month high of $41.50.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $30.91 million for the quarter, compared to the consensus estimate of $31.45 million. Franklin Financial Network had a net margin of 14.39% and a return on equity of 9.98%. Analysts predict that Franklin Financial Network will post 2.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, May 14th. Franklin Financial Network’s dividend payout ratio is 5.90%.

Several large investors have recently added to or reduced their stakes in FSB. Texas Permanent School Fund increased its position in Franklin Financial Network by 4.3% during the fourth quarter. Texas Permanent School Fund now owns 7,985 shares of the financial services provider’s stock worth $211,000 after acquiring an additional 328 shares during the period. Comerica Bank increased its position in Franklin Financial Network by 3.6% during the first quarter. Comerica Bank now owns 12,161 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 420 shares during the period. Rhumbline Advisers increased its position in Franklin Financial Network by 1.3% during the first quarter. Rhumbline Advisers now owns 35,953 shares of the financial services provider’s stock worth $1,043,000 after acquiring an additional 459 shares during the period. Dynamic Technology Lab Private Ltd increased its position in Franklin Financial Network by 6.9% during the first quarter. Dynamic Technology Lab Private Ltd now owns 9,225 shares of the financial services provider’s stock worth $268,000 after acquiring an additional 597 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Franklin Financial Network by 104.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,287 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 659 shares during the period. 64.74% of the stock is currently owned by institutional investors.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.

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