Farmers & Merchants Trust Co of Chambersburg PA Trims Holdings in Franklin Financial Services Corp. $FRAF

Key Points

• Farmers & Merchants Trust Co of Chambersburg PA significantly reduced its stake in Franklin Financial Services Corp. by 96.8%, selling 33,003 shares, and now holds only 1,081 shares valued at $37,000.
• Multiple other institutional investors have entered positions in Franklin Financial Services, with Goldman Sachs Group Inc. acquiring a stake worth approximately $571,000 in the first quarter.
• Franklin Financial Services recently announced a quarterly dividend of $0.33 per share, translating to an annualized dividend yield of 2.7% and a payout ratio of 40.49%.

Farmers & Merchants Trust Co of Chambersburg PA trimmed its stake in Franklin Financial Services Corp. (NASDAQ:FRAF - Free Report) by 96.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,081 shares of the company's stock after selling 33,003 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Franklin Financial Services were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in Franklin Financial Services during the 1st quarter valued at approximately $133,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Franklin Financial Services by 341.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,105 shares of the company's stock valued at $323,000 after acquiring an additional 7,042 shares during the last quarter. Peoples Financial Services CORP. purchased a new stake in shares of Franklin Financial Services in the 1st quarter valued at $500,000. Jane Street Group LLC purchased a new stake in shares of Franklin Financial Services in the 1st quarter valued at $529,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Financial Services in the 1st quarter valued at $571,000. Institutional investors own 24.80% of the company's stock.

Insider Transactions at Franklin Financial Services

In related news, SVP Scott D. Ehrig sold 1,060 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $46.83, for a total transaction of $49,639.80. Following the completion of the sale, the senior vice president directly owned 1,942 shares in the company, valued at approximately $90,943.86. This trade represents a 35.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.93% of the company's stock.

Franklin Financial Services Stock Performance

NASDAQ FRAF traded up $0.15 during mid-day trading on Friday, reaching $48.92. 70,154 shares of the stock were exchanged, compared to its average volume of 17,192. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The business's 50 day moving average is $43.48 and its 200-day moving average is $39.07. The company has a market capitalization of $219.16 million, a P/E ratio of 15.01 and a beta of 0.20. Franklin Financial Services Corp. has a 1 year low of $28.01 and a 1 year high of $49.42.

Franklin Financial Services (NASDAQ:FRAF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.32 earnings per share for the quarter. The company had revenue of $22.34 million during the quarter. Franklin Financial Services had a net margin of 11.78% and a return on equity of 9.64%.

Franklin Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Friday, August 1st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, August 1st. Franklin Financial Services's dividend payout ratio is 40.49%.

About Franklin Financial Services

Franklin Financial Services Corporation operates as the bank holding company for Farmers and Merchants Trust Company of Chambersburg that provides commercial, retail banking, and trust services to businesses, individuals, governmental entities, and non-profit organizations in Pennsylvania. It offers various deposit products, including checking, savings, money management, and time deposit accounts, as well as demand deposits.