Franklin Financial Services (NASDAQ:FRAF) Shares Down 0.6% - Here's What Happened

Key Points

• Franklin Financial Services' stock has decreased by 0.6%, reaching a low of $38.87 during midday trading, with an average volume drop of 74%.
• The company reported **$1.32 earnings per share** and a **net margin of 11.78%** for the last quarter, alongside declaring a **quarterly dividend of $0.33** with a yield of 3.4%.
• Institutional investors now hold **24.80% of the company's stock**, with significant new stakes taken by firms such as Goldman Sachs and Northwestern Mutual Wealth Management.

Franklin Financial Services Corp. (NASDAQ:FRAF - Get Free Report) shares traded down 0.6% on Wednesday . The company traded as low as $38.87 and last traded at $38.92. 8,944 shares traded hands during trading, a decline of 74% from the average session volume of 34,469 shares. The stock had previously closed at $39.17.

Franklin Financial Services Price Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The stock's 50 day simple moving average is $37.71 and its two-hundred day simple moving average is $37.07. The stock has a market cap of $173.85 million, a price-to-earnings ratio of 11.96 and a beta of 0.18.

Franklin Financial Services (NASDAQ:FRAF - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.32 earnings per share for the quarter. Franklin Financial Services had a net margin of 11.78% and a return on equity of 9.78%. The firm had revenue of $22.34 million for the quarter.

Franklin Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, August 1st. This represents a $1.32 dividend on an annualized basis and a yield of 3.4%. Franklin Financial Services's payout ratio is currently 40.49%.

Insiders Place Their Bets

In other Franklin Financial Services news, SVP Steven D. Butz sold 998 shares of Franklin Financial Services stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $38.82, for a total transaction of $38,742.36. Following the sale, the senior vice president owned 4,926 shares in the company, valued at $191,227.32. The trade was a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 53 shares of company stock worth $2,093 in the last 90 days. 6.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in shares of Franklin Financial Services during the first quarter valued at $571,000. Jane Street Group LLC bought a new position in shares of Franklin Financial Services during the first quarter valued at $529,000. Empowered Funds LLC lifted its holdings in shares of Franklin Financial Services by 3.7% during the first quarter. Empowered Funds LLC now owns 33,474 shares of the company's stock valued at $1,187,000 after acquiring an additional 1,202 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Franklin Financial Services during the first quarter valued at $133,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Franklin Financial Services by 341.3% during the first 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 period. 24.80% of the stock is owned by institutional investors.

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.