Brokerages expect Franklin Financial Network Inc (NYSE:FSB) to announce $31.10 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Franklin Financial Network’s earnings. Franklin Financial Network posted sales of $28.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The business is expected to report its next earnings results after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that Franklin Financial Network will report full year sales of $131.45 million for the current fiscal year, with estimates ranging from $130.40 million to $132.50 million. For the next fiscal year, analysts forecast that the business will post sales of $143.30 million, with estimates ranging from $142.00 million to $144.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last released its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $26.54 million for the quarter, compared to analyst estimates of $31.00 million. Franklin Financial Network had a return on equity of 11.69% and a net margin of 19.11%.
A number of research firms have weighed in on FSB. Zacks Investment Research raised Franklin Financial Network from a “sell” rating to a “hold” rating and set a $36.00 price objective on the stock in a research note on Thursday, January 24th. ValuEngine raised Franklin Financial Network from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. TheStreet lowered Franklin Financial Network from a “b-” rating to a “c+” rating in a research note on Monday, December 17th. Finally, Piper Jaffray Companies raised Franklin Financial Network from a “neutral” rating to an “overweight” rating and set a $38.00 price target on the stock in a research note on Monday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Franklin Financial Network presently has a consensus rating of “Hold” and a consensus target price of $35.75.
NYSE FSB traded up $0.10 on Wednesday, reaching $30.25. 47,344 shares of the company were exchanged, compared to its average volume of 77,166. The firm has a market capitalization of $439.37 million, a P/E ratio of 11.16 and a beta of 1.51. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.86 and a current ratio of 0.86. Franklin Financial Network has a fifty-two week low of $25.25 and a fifty-two week high of $41.50.
In other Franklin Financial Network news, Director Pamela J. Stephens purchased 1,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The shares were acquired at an average price of $31.65 per share, with a total value of $31,650.00. Following the purchase, the director now directly owns 12,633 shares in the company, valued at approximately $399,834.45. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 2,018 shares of company stock worth $67,924. Corporate insiders own 11.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of Franklin Financial Network by 6.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 158,619 shares of the financial services provider’s stock valued at $6,202,000 after buying an additional 9,129 shares during the period. BlackRock Inc. raised its holdings in shares of Franklin Financial Network by 5.6% in the 3rd quarter. BlackRock Inc. now owns 1,867,326 shares of the financial services provider’s stock valued at $73,012,000 after buying an additional 99,452 shares during the period. Vanguard Group Inc raised its holdings in shares of Franklin Financial Network by 15.3% in the 3rd quarter. Vanguard Group Inc now owns 750,693 shares of the financial services provider’s stock valued at $29,352,000 after buying an additional 99,436 shares during the period. Royce & Associates LP raised its holdings in shares of Franklin Financial Network by 17.4% in the 3rd quarter. Royce & Associates LP now owns 315,354 shares of the financial services provider’s stock valued at $12,330,000 after buying an additional 46,714 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Franklin Financial Network in the 4th quarter valued at $266,000. 65.87% of the stock is currently owned by institutional investors and hedge funds.
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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