Franklin Financial Network Inc (FSB) Stake Raised by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its holdings in shares of Franklin Financial Network Inc (NYSE:FSB) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,900 shares of the financial services provider’s stock after purchasing an additional 1,900 shares during the period. Two Sigma Advisers LP owned about 0.14% of Franklin Financial Network worth $644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trustcore Financial Services LLC bought a new stake in shares of Franklin Financial Network during the 4th quarter worth $500,000. Goldman Sachs Group Inc. raised its stake in shares of Franklin Financial Network by 30.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 16,795 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 3,955 shares during the period. Wells Fargo & Company MN raised its stake in shares of Franklin Financial Network by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 21,264 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 4,832 shares during the period. Greenwood Capital Associates LLC raised its stake in shares of Franklin Financial Network by 16.9% during the 4th quarter. Greenwood Capital Associates LLC now owns 22,540 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 3,254 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Franklin Financial Network by 25.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 23,164 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 4,700 shares during the period. Institutional investors own 55.73% of the company’s stock.

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In related news, Director James W. Iv Cross sold 3,525 shares of the business’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $32.66, for a total value of $115,126.50. Following the sale, the director now directly owns 21,450 shares in the company, valued at approximately $700,557. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin A. Herrington sold 1,000 shares of the business’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $33.57, for a total value of $33,570.00. The disclosure for this sale can be found here. Insiders own 10.56% of the company’s stock.

A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Franklin Financial Network from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Raymond James reiterated a “market perform” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Compass Point cut Franklin Financial Network from a “buy” rating to a “neutral” rating in a research note on Thursday, January 25th. Hovde Group reiterated a “hold” rating on shares of Franklin Financial Network in a research note on Friday, January 26th. Finally, Piper Jaffray reiterated a “hold” rating and set a $35.00 target price on shares of Franklin Financial Network in a research note on Sunday, January 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.67.

Shares of Franklin Financial Network stock opened at $33.05 on Thursday. Franklin Financial Network Inc has a 52-week low of $30.30 and a 52-week high of $44.30. The stock has a market capitalization of $434.03, a P/E ratio of 13.53, a PEG ratio of 1.14 and a beta of 1.08. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.08). Franklin Financial Network had a net margin of 19.08% and a return on equity of 11.32%. The firm had revenue of $27.87 million during the quarter, compared to the consensus estimate of $30.20 million. sell-side analysts forecast that Franklin Financial Network Inc will post 2.88 EPS for the current year.

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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.

Institutional Ownership by Quarter for Franklin Financial Network (NYSE:FSB)

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