Franklin Financial Services (NASDAQ:FRAF) Stock Falls 0.3% - Here's Why

Key Points

• Franklin Financial Services shares slipped 0.3% to $62.96 in midday trading, with volume slightly above its average. The stock’s market capitalization is approximately $283 million, with a P/E ratio of 11.47.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $68.00. Hovde Group raised its target to $68, while Wall Street Zen downgraded the shares to “Hold.”
• The company exceeded quarterly EPS expectations, reporting $1.47 versus the $1.44 consensus estimate, and declared a quarterly dividend of $0.34, equivalent to a 2.2% annualized yield.

Franklin Financial Services Corp. (NASDAQ:FRAF - Get Free Report) fell 0.3% on Monday. The company traded as low as $61.65 and last traded at $62.96. 40,324 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 38,840 shares. The stock had previously closed at $63.16.

Analyst Ratings Changes

A number of analysts have recently issued reports on FRAF shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Franklin Financial Services in a research note on Friday, July 24th. Hovde Group upped their target price on shares of Franklin Financial Services from $64.00 to $68.00 and gave the company a "market perform" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Franklin Financial Services from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.00.

Franklin Financial Services Stock Down 0.3%

The firm has a fifty day simple moving average of $62.92 and a 200-day simple moving average of $59.69. The company has a market capitalization of $283.32 million, a PE ratio of 11.47 and a beta of -0.02. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.93 and a current ratio of 0.93.

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. Franklin Financial Services had a return on equity of 14.00% and a net margin of 18.20%.The company had revenue of $24.50 million during the quarter, compared to analysts' expectations of $24.70 million.

Franklin Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Friday, August 7th were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 2.2%. Franklin Financial Services's dividend payout ratio is currently 24.77%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in shares of Franklin Financial Services in the 2nd quarter worth about $29,000. Public Employees Retirement System of Ohio bought a new position in shares of Franklin Financial Services during the second quarter worth about $171,000. QRG Capital Management Inc. acquired a new position in Franklin Financial Services in the second quarter worth about $231,000. Northwestern Mutual Wealth Management Co. acquired a new position in Franklin Financial Services in the second quarter worth about $258,000. Finally, Deutsche Bank AG bought a new stake in Franklin Financial Services in the second quarter valued at about $262,000. 24.80% of the stock is owned by institutional investors and hedge funds.

About Franklin Financial Services

Franklin Financial Services Corporation is the bank holding company for F&M Trust, a community banking institution headquartered in Chambersburg, Pennsylvania. The company serves individuals, families, businesses and nonprofit organizations through a network of banking offices in south-central Pennsylvania and neighboring communities.

F&M Trust provides a range of financial products and services, including checking and savings accounts, certificates of deposit, consumer lending, residential mortgages, home equity financing and commercial loans.

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