Franklin Financial Services (NASDAQ:FRAF) Given New $68.00 Price Target at Hovde Group

Key Points

• Hovde Group raised Franklin Financial Services’ price target to $68 from $64 while maintaining a “market perform” rating, implying 6.58% upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $68 average target.
• Franklin Financial reported quarterly earnings of $1.47 per share, beating estimates by $0.03, though revenue of $24.50 million came in slightly below expectations.
• FRAF shares opened at $63.80, near their 52-week high of $64.88; insiders own 5.93% of the stock, while institutional investors and hedge funds hold 24.80%.

Franklin Financial Services (NASDAQ:FRAF - Get Free Report) had its target price lifted by investment analysts at Hovde Group from $64.00 to $68.00 in a research note issued to investors on Thursday. The firm currently has a "market perform" rating on the stock. Hovde Group's price objective would indicate a potential upside of 6.58% from the company's current price.

A number of other research firms also recently commented on FRAF. Wall Street Zen downgraded shares of Franklin Financial Services from a "buy" rating to a "hold" rating in a research note on Sunday. Weiss Ratings restated a "buy (b)" rating on shares of Franklin Financial Services in a research note on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.00.

Franklin Financial Services Stock Performance

Shares of FRAF opened at $63.80 on Thursday. The business's 50 day moving average is $61.09 and its two-hundred day moving average is $55.49. Franklin Financial Services has a 52-week low of $38.52 and a 52-week high of $64.88. The firm has a market cap of $286.46 million, a price-to-earnings ratio of 11.62 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.

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

Insiders Place Their Bets

In other Franklin Financial Services news, EVP Steven D. Butz sold 1,400 shares of the 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 sale, the executive vice president directly owned 5,610 shares of the company's stock, valued at approximately $323,865.30. This represents a 19.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Franklin Financial Services

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

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.

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