Wall Street Zen upgraded shares of Franklin Financial Services (NASDAQ:FRAF – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.
FRAF has been the topic of several other reports. Hovde Group lowered Franklin Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Franklin Financial Services in a report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.
Get Our Latest Research Report on FRAF
Franklin Financial Services Trading Up 0.7%
Franklin Financial Services (NASDAQ:FRAF – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.14. The business had revenue of $23.88 million for the quarter, compared to the consensus estimate of $23.30 million. Franklin Financial Services had a net margin of 17.73% and a return on equity of 14.13%.
Franklin Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be issued a $0.34 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 2.2%. Franklin Financial Services’s dividend payout ratio is currently 25.47%.
Insider Transactions at Franklin Financial Services
In other Franklin Financial Services news, EVP Steven D. Butz sold 1,400 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $57.73, for a total transaction of $80,822.00. Following the transaction, the executive vice president directly owned 5,610 shares of the company’s stock, valued at $323,865.30. This represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.93% of the company’s stock.
Institutional Trading of Franklin Financial Services
Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Franklin Financial Services by 391,773.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,125,574 shares of the company’s stock worth $809,504,000 after purchasing an additional 16,121,459 shares during the last quarter. Geode Capital Management LLC boosted its position in Franklin Financial Services by 109.8% during the second quarter. Geode Capital Management LLC now owns 98,224 shares of the company’s stock worth $3,401,000 after purchasing an additional 51,407 shares during the period. Marshall Wace LLP grew its holdings in Franklin Financial Services by 333.6% during the second quarter. Marshall Wace LLP now owns 45,468 shares of the company’s stock valued at $1,575,000 after purchasing an additional 34,982 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Franklin Financial Services by 64.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 75,439 shares of the company’s stock valued at $3,853,000 after purchasing an additional 29,637 shares during the last quarter. Finally, Informed Momentum Co LLC bought a new position in shares of Franklin Financial Services in the fourth quarter valued at approximately $1,231,000. Institutional investors own 24.80% of the company’s stock.
About Franklin Financial Services
Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.‐listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.
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