Franklin Financial Network Inc (FSB) Upgraded to Hold at Zacks Investment Research

Franklin Financial Network Inc (NYSE:FSB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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. “

Several other research firms have also commented on FSB. Stephens upgraded shares of Franklin Financial Network from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 21st. Piper Jaffray Companies started coverage on shares of Franklin Financial Network in a research note on Tuesday, November 22nd. They set an “overweight” rating and a $41.50 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.88.

Analyst Recommendations for Franklin Financial Network (NYSE:FSB)

Shares of Franklin Financial Network (NYSE:FSB) traded down 0.91% during midday trading on Monday, reaching $38.15. 26,550 shares of the company traded hands. The company has a market capitalization of $497.32 million, a PE ratio of 15.76 and a beta of 1.64. Franklin Financial Network has a 1-year low of $24.80 and a 1-year high of $42.80. The company has a 50 day moving average price of $38.60 and a 200 day moving average price of $37.49.

Franklin Financial Network (NYSE:FSB) last posted its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. Franklin Financial Network had a net margin of 23.85% and a return on equity of 13.59%. On average, analysts expect that Franklin Financial Network will post $2.55 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management AG raised its position in Franklin Financial Network by 169.2% in the fourth quarter. Allianz Asset Management AG now owns 358,856 shares of the financial services provider’s stock valued at $15,019,000 after buying an additional 225,556 shares during the period. Bank of Montreal Can raised its position in Franklin Financial Network by 2.6% in the third quarter. Bank of Montreal Can now owns 327,764 shares of the financial services provider’s stock valued at $12,258,000 after buying an additional 8,258 shares during the period. FJ Capital Management LLC raised its position in Franklin Financial Network by 126.8% in the fourth quarter. FJ Capital Management LLC now owns 322,100 shares of the financial services provider’s stock valued at $13,479,000 after buying an additional 180,100 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Franklin Financial Network by 15.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 185,261 shares of the financial services provider’s stock valued at $7,753,000 after buying an additional 25,372 shares during the period. Finally, Putnam Investments LLC raised its position in Franklin Financial Network by 41.4% in the fourth quarter. Putnam Investments LLC now owns 170,145 shares of the financial services provider’s stock valued at $7,121,000 after buying an additional 49,800 shares during the period. Hedge funds and other institutional investors own 42.42% of the company’s stock.

About Franklin Financial Network

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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