Franklin Financial Services Corp. $FRAF Stake Lessened by Farmers & Merchants Trust Co of Chambersburg PA

Key Points

• Farmers & Merchants Trust Co of Chambersburg PA sharply reduced its position in Franklin Financial Services by 94.2% in the first quarter, selling 18,579 shares and leaving it with 1,134 shares worth about $58,000.
• Franklin Financial Services reported better-than-expected quarterly results, posting earnings of $1.48 per share versus the $1.34 consensus estimate and revenue of $23.88 million, also above expectations.
• Shares were down 1.2% in Thursday trading, while analysts currently have a mixed view with a consensus rating of Moderate Buy and an average price target of $64.00.

Farmers & Merchants Trust Co of Chambersburg PA lessened its stake in shares of Franklin Financial Services Corp. (NASDAQ:FRAF - Free Report) by 94.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,134 shares of the company's stock after selling 18,579 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Franklin Financial Services were worth $58,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Franklin Financial Services by 69.2% during the 4th 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 lifted its holdings 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. Bridgeway Capital Management LLC boosted its stake in Franklin Financial Services by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 64,715 shares of the company's stock valued at $2,241,000 after buying an additional 541 shares in the last quarter. Rhumbline Advisers grew its holdings in Franklin Financial Services by 18.0% during the third quarter. Rhumbline Advisers now owns 6,323 shares of the company's stock worth $291,000 after acquiring an additional 963 shares during the period. Finally, Nuveen LLC grew its holdings in Franklin Financial Services by 11.4% during the fourth quarter. Nuveen LLC now owns 9,560 shares of the company's stock worth $480,000 after acquiring an additional 980 shares during the period. Institutional investors own 24.80% of the company's stock.

Franklin Financial Services Stock Down 1.2%

Shares of Franklin Financial Services stock opened at $60.98 on Thursday. Franklin Financial Services Corp. has a 12-month low of $37.69 and a 12-month high of $64.88. The firm has a market capitalization of $273.80 million, a PE ratio of 11.42 and a beta of -0.02. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12. The stock's fifty day moving average is $59.28 and its 200-day moving average is $54.28.

Franklin Financial Services (NASDAQ:FRAF - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.14. The firm had revenue of $23.88 million for the quarter, compared to analysts' expectations of $23.30 million. Franklin Financial Services had a return on equity of 14.13% and a net margin of 17.73%.

Insider Activity at Franklin Financial Services

In other news, EVP Steven D. Butz sold 1,400 shares of Franklin Financial Services stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $57.73, for a total value of $80,822.00. Following the transaction, the executive vice president directly owned 5,610 shares of the company's stock, valued at $323,865.30. This trade represents a 19.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FRAF. Weiss Ratings reissued a "buy (b)" rating on shares of Franklin Financial Services in a report on Monday, April 27th. Wall Street Zen cut shares of Franklin Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, Hovde Group downgraded shares of Franklin Financial Services from an "outperform" rating to a "market perform" rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Franklin Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

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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