Wall Street analysts predict that Franklin Financial Network Inc (NYSE:FSB) will report $32.60 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Franklin Financial Network’s earnings, with the highest sales estimate coming in at $33.10 million and the lowest estimate coming in at $32.10 million. Franklin Financial Network posted sales of $30.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The business is expected to announce its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that Franklin Financial Network will report full-year sales of $129.10 million for the current fiscal year, with estimates ranging from $128.10 million to $130.10 million. For the next fiscal year, analysts expect that the firm will report sales of $138.70 million, with estimates ranging from $138.40 million to $139.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Franklin Financial Network.
Franklin Financial Network (NYSE:FSB) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.34 EPS for the quarter, topping the 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 for the quarter, compared to analysts’ expectations of $32.40 million.
Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of Franklin Financial Network from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 28th. Raymond James raised shares of Franklin Financial Network from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Friday, May 17th. ValuEngine raised shares of Franklin Financial Network from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Stephens raised shares of Franklin Financial Network from an “equal” rating to a “weight” rating and set a $34.00 price target on the stock in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $33.20.
Several institutional investors have recently added to or reduced their stakes in FSB. Geode Capital Management LLC boosted its position in shares of Franklin Financial Network by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 125,218 shares of the financial services provider’s stock worth $3,301,000 after buying an additional 7,765 shares during the period. Bank of America Corp DE boosted its position in shares of Franklin Financial Network by 66.2% in the fourth quarter. Bank of America Corp DE now owns 19,288 shares of the financial services provider’s stock worth $509,000 after buying an additional 7,685 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in shares of Franklin Financial Network by 257.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,351 shares of the financial services provider’s stock worth $115,000 after buying an additional 3,133 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Franklin Financial Network in the fourth quarter worth about $93,000. Finally, Millennium Management LLC purchased a new stake in shares of Franklin Financial Network in the fourth quarter worth about $240,000. Institutional investors own 65.30% of the company’s stock.
NYSE:FSB traded down $0.49 on Friday, hitting $27.91. 131,472 shares of the company’s stock were exchanged, compared to its average volume of 69,869. The firm has a 50-day moving average price of $28.31 and a 200-day moving average price of $29.02. 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 has a 52 week low of $25.25 and a 52 week high of $41.50. The company has a market cap of $415.35 million, a P/E ratio of 10.30 and a beta of 1.36.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. Franklin Financial Network’s dividend payout ratio is presently 5.90%.
About Franklin Financial Network
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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