Swiss National Bank raised its holdings in shares of Franklin Financial Network Inc (NYSE:FSB) by 2.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 25,700 shares of the financial services provider’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank’s holdings in Franklin Financial Network were worth $716,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Franklin Financial Network by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 751,678 shares of the financial services provider’s stock worth $19,822,000 after buying an additional 55,256 shares in the last quarter. Foundry Partners LLC grew its holdings in shares of Franklin Financial Network by 8.1% during the second quarter. Foundry Partners LLC now owns 229,985 shares of the financial services provider’s stock worth $6,407,000 after buying an additional 17,255 shares in the last quarter. Hennessy Advisors Inc. grew its holdings in shares of Franklin Financial Network by 9.4% during the second quarter. Hennessy Advisors Inc. now owns 175,000 shares of the financial services provider’s stock worth $4,876,000 after buying an additional 15,000 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Franklin Financial Network during the first quarter worth $4,342,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Franklin Financial Network by 54.4% during the first quarter. Victory Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock worth $1,511,000 after buying an additional 18,350 shares in the last quarter. 64.29% of the stock is owned by institutional investors and hedge funds.

In related news, Director James W. Iv Cross sold 2,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $30.16, for a total value of $60,320.00. Following the completion of the sale, the director now owns 29,463 shares of the company’s stock, valued at $888,604.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.70% of the company’s stock.

Shares of FSB traded up $0.05 during mid-day trading on Friday, reaching $31.92. The stock had a trading volume of 30,393 shares, compared to its average volume of 60,946. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.97 and a quick ratio of 0.96. Franklin Financial Network Inc has a 52-week low of $25.25 and a 52-week high of $41.50. The business’s fifty day moving average is $28.63 and its 200 day moving average is $28.62. The firm has a market cap of $451.03 million, a price-to-earnings ratio of 11.78 and a beta of 1.36.

Franklin Financial Network (NYSE:FSB) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. Franklin Financial Network had a net margin of 11.40% and a return on equity of 8.23%. The firm had revenue of $32.29 million during the quarter, compared to analyst estimates of $32.40 million. As a group, sell-side analysts anticipate that Franklin Financial Network Inc will post 2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, August 14th. Franklin Financial Network’s dividend payout ratio is currently 5.90%.

FSB has been the subject of a number of research reports. Sandler O’Neill lowered shares of Franklin Financial Network from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Stephens raised shares of Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 price objective for the company in a report on Friday, July 26th. Zacks Investment Research lowered shares of Franklin Financial Network from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 28th. Finally, Raymond James raised shares of Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Friday, May 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.20.

Franklin Financial Network Profile

Franklin Financial Network, Inc operates as the bank holding company for Franklin Synergy Bank that provides banking and related financial services to small businesses, corporate entities, local governments, and individuals. Its deposit products include checking, savings, and certificate of deposit accounts; and demand deposits, interest-bearing transaction accounts, money market accounts, and municipal deposits.

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

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