Raymond James Financial Services Advisors Inc. Boosts Holdings in Franklin Financial Network, Inc. (FSB)

Raymond James Financial Services Advisors Inc. boosted its position in shares of Franklin Financial Network, Inc. (NYSE:FSB) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 231,221 shares of the financial services provider’s stock after buying an additional 24,364 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 1.75% of Franklin Financial Network worth $9,538,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FSB. Legal & General Group Plc lifted its holdings in Franklin Financial Network by 1.1% during the 1st quarter. Legal & General Group Plc now owns 2,814 shares of the financial services provider’s stock worth $109,000 after buying an additional 30 shares in the last quarter. Citigroup Inc. lifted its holdings in Franklin Financial Network by 3,009.2% during the 2nd quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock worth $125,000 after buying an additional 2,949 shares in the last quarter. Voya Investment Management LLC acquired a new position in Franklin Financial Network during the 2nd quarter worth $211,000. Goldman Sachs Group Inc. acquired a new position in Franklin Financial Network during the 2nd quarter worth $214,000. Finally, Menta Capital LLC acquired a new position in Franklin Financial Network during the 1st quarter worth $252,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

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Franklin Financial Network, Inc. (NYSE FSB) traded up 1.62% on Wednesday, hitting $34.55. The stock had a trading volume of 13,270 shares. Franklin Financial Network, Inc. has a 1-year low of $29.85 and a 1-year high of $44.30. The firm has a market capitalization of $455.47 million, a price-to-earnings ratio of 14.28 and a beta of 1.48. The company’s 50 day moving average is $34.57 and its 200-day moving average is $34.57.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $28.35 million for the quarter, compared to analyst estimates of $30.63 million. Franklin Financial Network had a return on equity of 11.80% and a net margin of 23.50%. On average, analysts forecast that Franklin Financial Network, Inc. will post $2.53 EPS for the current year.

Several research analysts have issued reports on FSB shares. Zacks Investment Research downgraded Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub downgraded Franklin Financial Network from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Sandler O’Neill started coverage on Franklin Financial Network in a report on Wednesday, July 12th. They set a “hold” rating and a $43.00 price objective on the stock. Stephens downgraded Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies downgraded Franklin Financial Network from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $41.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.50.

Franklin Financial Network Company Profile

Franklin Financial Network, Inc is a financial holding company. T

A number of other large investors have also recently bought and sold shares of FSB. Legal & General Group Plc lifted its holdings in Franklin Financial Network by 1.1% during the 1st quarter. Legal & General Group Plc now owns 2,814 shares of the financial services provider’s stock worth $109,000 after buying an additional 30 shares in the last quarter. Citigroup Inc. lifted its holdings in Franklin Financial Network by 3,009.2% during the 2nd quarter. Citigroup Inc. now owns 3,047 shares of the financial services provider’s stock worth $125,000 after buying an additional 2,949 shares in the last quarter. Voya Investment Management LLC acquired a new position in Franklin Financial Network during the 2nd quarter worth $211,000. Goldman Sachs Group Inc. acquired a new position in Franklin Financial Network during the 2nd quarter worth $214,000. Finally, Menta Capital LLC acquired a new position in Franklin Financial Network during the 1st quarter worth $252,000. 59.21% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/raymond-james-financial-services-advisors-inc-boosts-holdings-in-franklin-financial-network-inc-fsb.html.

Franklin Financial Network, Inc. (NYSE FSB) traded up 1.62% on Wednesday, hitting $34.55. The stock had a trading volume of 13,270 shares. Franklin Financial Network, Inc. has a 1-year low of $29.85 and a 1-year high of $44.30. The firm has a market capitalization of $455.47 million, a price-to-earnings ratio of 14.28 and a beta of 1.48. The company’s 50 day moving average is $34.57 and its 200-day moving average is $34.57.

Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The business had revenue of $28.35 million for the quarter, compared to analyst estimates of $30.63 million. Franklin Financial Network had a return on equity of 11.80% and a net margin of 23.50%. On average, analysts forecast that Franklin Financial Network, Inc. will post $2.53 EPS for the current year.

Several research analysts have issued reports on FSB shares. Zacks Investment Research downgraded Franklin Financial Network from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub downgraded Franklin Financial Network from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Sandler O’Neill started coverage on Franklin Financial Network in a report on Wednesday, July 12th. They set a “hold” rating and a $43.00 price objective on the stock. Stephens downgraded Franklin Financial Network from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies downgraded Franklin Financial Network from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $41.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.50.

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.

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

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