Brokerages forecast that Franklin Financial Network Inc (NYSE:FSB) will post $31.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Franklin Financial Network’s earnings, with the lowest sales estimate coming in at $30.89 million and the highest estimate coming in at $31.40 million. Franklin Financial Network reported sales of $27.90 million during the same quarter last year, which indicates a positive year over year growth rate of 11.6%. The firm is scheduled to report its next earnings results on Wednesday, October 24th.
On average, analysts expect that Franklin Financial Network will report full-year sales of $122.24 million for the current year, with estimates ranging from $121.48 million to $123.00 million. For the next financial year, analysts expect that the firm will post sales of $134.83 million per share, with estimates ranging from $132.76 million to $136.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. Franklin Financial Network had a net margin of 19.27% and a return on equity of 12.24%. The business had revenue of $31.05 million during the quarter, compared to analyst estimates of $29.65 million.
A number of equities research analysts have issued reports on FSB shares. ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Stephens reaffirmed a “hold” rating and set a $39.00 price objective on shares of Franklin Financial Network in a report on Thursday, July 26th. Piper Jaffray Companies set a $39.00 price objective on shares of Franklin Financial Network and gave the company a “hold” rating in a report on Sunday, July 29th. Compass Point lowered shares of Franklin Financial Network from a “neutral” rating to a “sell” rating and set a $36.00 price objective for the company. in a report on Tuesday, June 12th. Finally, Zacks Investment Research lowered shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Franklin Financial Network has a consensus rating of “Hold” and an average price target of $39.80.
FSB traded down $0.85 during trading on Wednesday, reaching $38.40. 103,400 shares of the company traded hands, compared to its average volume of 116,342. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.76 and a quick ratio of 0.75. Franklin Financial Network has a 12-month low of $30.30 and a 12-month high of $40.30. The firm has a market cap of $549.80 million, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10.
In other news, Director Henry W. Jr. Brockman sold 1,500 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 31,900 shares in the company, valued at approximately $1,276,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah L. Meyerrose sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $38.50, for a total value of $77,000.00. Following the transaction, the chief financial officer now owns 7,255 shares of the company’s stock, valued at $279,317.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,107 shares of company stock valued at $534,849 over the last quarter. Corporate insiders own 11.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Franklin Financial Network by 132.4% during the 2nd quarter. BlackRock Inc. now owns 1,767,874 shares of the financial services provider’s stock valued at $66,473,000 after acquiring an additional 1,007,023 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Franklin Financial Network by 28.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 581,247 shares of the financial services provider’s stock valued at $21,855,000 after acquiring an additional 127,937 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Franklin Financial Network during the 2nd quarter valued at approximately $15,718,000. Royce & Associates LP boosted its position in shares of Franklin Financial Network by 164.0% during the 2nd quarter. Royce & Associates LP now owns 268,640 shares of the financial services provider’s stock valued at $10,101,000 after acquiring an additional 166,895 shares during the last quarter. Finally, JCSD Capital LLC boosted its position in shares of Franklin Financial Network by 9.0% during the 1st quarter. JCSD Capital LLC now owns 243,003 shares of the financial services provider’s stock valued at $7,922,000 after acquiring an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 53.31% of the company’s stock.
About Franklin Financial Network
Franklin Financial Network, Inc operates as the holding company for Franklin Synergy Bank that provides various banking and related financial services to small businesses, corporate entities, local governments, and individuals. The company's deposit products include demand, interest-bearing transaction accounts, money market accounts, certificates of deposit, municipal deposits, savings, and deposit accounts.
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