Jupiter Asset Management Ltd. Cuts Stake in Franklin Financial Network, Inc. (FSB)

Jupiter Asset Management Ltd. decreased its stake in Franklin Financial Network, Inc. (NYSE:FSB) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,112 shares of the financial services provider’s stock after selling 419 shares during the period. Jupiter Asset Management Ltd.’s holdings in Franklin Financial Network were worth $6,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. James Investment Research Inc. bought a new position in shares of Franklin Financial Network during the third quarter valued at $1,565,000. Bank of Montreal Can raised its position in shares of 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. Context BH Capital Management LP raised its position in shares of Franklin Financial Network by 3.2% in the second quarter. Context BH Capital Management LP now owns 51,993 shares of the financial services provider’s stock valued at $1,631,000 after buying an additional 1,600 shares during the period. Salzhauer Michael raised its position in shares of Franklin Financial Network by 0.7% in the third quarter. Salzhauer Michael now owns 41,288 shares of the financial services provider’s stock valued at $1,544,000 after buying an additional 298 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of Franklin Financial Network by 1.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 62,400 shares of the financial services provider’s stock valued at $2,334,000 after buying an additional 700 shares during the period. 42.42% of the stock is owned by institutional investors.

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

Shares of Franklin Financial Network, Inc. (NYSE:FSB) traded up 1.30% during mid-day trading on Monday, reaching $38.95. 34,831 shares of the company traded hands. Franklin Financial Network, Inc. has a 52-week low of $22.83 and a 52-week high of $42.80. The company has a market capitalization of $507.75 million, a P/E ratio of 16.10 and a beta of 1.64. The firm’s 50 day moving average price is $39.96 and its 200-day moving average price is $36.48.

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

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FSB has been the subject of several recent research reports. Zacks Investment Research lowered shares of Franklin Financial Network from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. Stephens raised shares of Franklin Financial Network from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 21st. Finally, Piper Jaffray Companies initiated coverage on shares of Franklin Financial Network in a research note on Tuesday, November 22nd. They issued an “overweight” rating and a $41.50 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.88.

In other news, Director David H. Kemp purchased 2,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $32.00 per share, with a total value of $64,000.00. Following the purchase, the director now directly owns 144,605 shares of the company’s stock, valued at $4,627,360. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Richard Herrington purchased 1,000 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were purchased at an average cost of $32.00 per share, with a total value of $32,000.00. The disclosure for this purchase can be found here. 12.36% of the stock is owned by company insiders.

Franklin Financial Network Company Profile

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.

5 Day Chart for NYSE:FSB

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