Franklin Financial Services (NASDAQ:FRAF) Announces Quarterly Earnings Results

Franklin Financial Services (NASDAQ:FRAF) released its earnings results on Friday. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03, FiscalAI reports. The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $24.70 million. Franklin Financial Services had a net margin of 17.73% and a return on equity of 14.13%.

Franklin Financial Services Stock Performance

Shares of Franklin Financial Services stock opened at $62.28 on Friday. Franklin Financial Services has a fifty-two week low of $38.52 and a fifty-two week high of $64.88. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $279.82 million, a P/E ratio of 11.66 and a beta of -0.02. The company’s 50 day moving average price is $60.65 and its two-hundred day moving average price is $55.18.

Franklin Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Friday, August 7th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 2.2%. Franklin Financial Services’s dividend payout ratio is presently 25.47%.

Insider Activity

In other news, EVP Steven D. Butz sold 1,400 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $57.73, for a total transaction of $80,822.00. Following the completion of the transaction, the executive vice president directly owned 5,610 shares in the company, valued at approximately $323,865.30. This represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.93% of the company’s stock.

Hedge Funds Weigh In On Franklin Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Franklin Financial Services by 69.2% during the fourth quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock valued at $43,000 after purchasing an additional 353 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Franklin Financial Services by 84.1% in the third quarter. BNP Paribas Financial Markets now owns 950 shares of the company’s stock valued at $44,000 after buying an additional 434 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Franklin Financial Services in the 2nd quarter valued at approximately $79,000. New York State Common Retirement Fund acquired a new stake in Franklin Financial Services during the 2nd quarter worth approximately $100,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Franklin Financial Services during the 1st quarter worth approximately $133,000. Institutional investors and hedge funds own 24.80% of the company’s stock.

Analyst Ratings Changes

FRAF has been the topic of several analyst reports. Wall Street Zen upgraded shares of Franklin Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Franklin Financial Services in a research report on Monday, April 27th. Finally, Hovde Group cut Franklin Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

About Franklin Financial Services

Franklin Financial Services, Inc (NASDAQ: FRAF) is a U.S.?listed specialty finance company that makes and acquires secured loans, with a focus on asset-based lending and mortgage warehouse financing. Through its wholly owned subsidiary, FFS Investment Company, a Maryland corporation regulated as a business development company under the Investment Company Act of 1940, Franklin Financial provides revolving lines of credit, term loans and other credit facilities secured primarily by residential and commercial mortgage loans, receivables and inventory.