Arrowstreet Capital Limited Partnership Grows Holdings in Franklin Financial Services Corp. $FRAF

Key Points

• Arrowstreet Capital increased its Franklin Financial Services stake by 64.7% in the first quarter, bringing its holdings to 75,439 shares worth approximately $3.85 million. Institutional investors collectively own 24.8% of the company.
• Franklin Financial Services reported quarterly EPS of $1.47, beating estimates by $0.03, while revenue of $24.5 million fell slightly short of expectations. The company also declared a quarterly dividend of $0.34 per share, representing a 2.2% annualized yield.
• FRAF shares opened at $63.01, near their 52-week high of $64.88. Analysts maintain a “Moderate Buy” consensus with an average price target of $68.00, although one rating was recently downgraded to “Hold.”

Arrowstreet Capital Limited Partnership raised its holdings in shares of Franklin Financial Services Corp. (NASDAQ:FRAF - Free Report) by 64.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,439 shares of the company's stock after purchasing an additional 29,637 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.68% of Franklin Financial Services worth $3,853,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Franklin Financial Services by 391,773.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 16,125,574 shares of the company's stock valued at $809,504,000 after buying an additional 16,121,459 shares during the period. Geode Capital Management LLC grew its stake in Franklin Financial Services by 109.8% in the 2nd quarter. Geode Capital Management LLC now owns 98,224 shares of the company's stock worth $3,401,000 after acquiring an additional 51,407 shares in the last quarter. State Street Corp increased its position in shares of Franklin Financial Services by 15.1% during the fourth quarter. State Street Corp now owns 69,681 shares of the company's stock worth $3,498,000 after acquiring an additional 9,141 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Franklin Financial Services by 8.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 69,651 shares of the company's stock worth $3,496,000 after acquiring an additional 5,501 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Franklin Financial Services by 333.6% during the second quarter. Marshall Wace LLP now owns 45,468 shares of the company's stock valued at $1,575,000 after acquiring an additional 34,982 shares in the last quarter. 24.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Franklin Financial Services

In other Franklin Financial Services news, EVP Steven D. Butz sold 1,400 shares of Franklin Financial Services stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $57.73, for a total value of $80,822.00. Following the transaction, the executive vice president owned 5,610 shares in the company, valued at $323,865.30. The trade was a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.93% of the stock is owned by company insiders.

Franklin Financial Services Stock Performance

Shares of FRAF stock opened at $63.01 on Tuesday. The firm has a market cap of $282.91 million, a price-to-earnings ratio of 11.48 and a beta of -0.02. The company's 50 day moving average is $61.39 and its 200 day moving average is $55.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. Franklin Financial Services Corp. has a 52-week low of $38.52 and a 52-week high of $64.88.

Franklin Financial Services (NASDAQ:FRAF - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.03. The company had revenue of $24.50 million during the quarter, compared to the consensus estimate of $24.70 million. Franklin Financial Services had a net margin of 18.20% and a return on equity of 14.21%.

Franklin Financial Services Announces Dividend

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 given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a yield of 2.2%. Franklin Financial Services's dividend payout ratio (DPR) is presently 24.77%.

Wall Street Analysts Forecast Growth

FRAF has been the subject of a number of research reports. Hovde Group boosted their price target on Franklin Financial Services from $64.00 to $68.00 and gave the company a "market perform" rating in a report on Thursday, July 30th. Wall Street Zen lowered Franklin Financial Services from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Franklin Financial Services in a research report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Franklin Financial Services presently has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Franklin Financial Services Profile

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.

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