Renaissance Technologies LLC Cuts Stake in Franklin Financial Services Co. (NASDAQ:FRAF)

Renaissance Technologies LLC lessened its holdings in Franklin Financial Services Co. (NASDAQ:FRAF) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,300 shares of the company’s stock after selling 500 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Franklin Financial Services worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FRAF. Barclays PLC purchased a new position in shares of Franklin Financial Services in the third quarter worth about $32,000. PL Capital Advisors LLC bought a new stake in Franklin Financial Services in the fourth quarter valued at approximately $385,000. Empowered Funds LLC lifted its position in Franklin Financial Services by 1.9% in the fourth quarter. Empowered Funds LLC now owns 32,272 shares of the company’s stock valued at $965,000 after purchasing an additional 600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Franklin Financial Services by 31.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,926 shares of the company’s stock worth $267,000 after purchasing an additional 2,127 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Franklin Financial Services in the fourth quarter worth $65,000. 24.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Franklin Financial Services

In other Franklin Financial Services news, President Craig W. Best bought 6,756 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $37.00 per share, for a total transaction of $249,972.00. Following the completion of the acquisition, the president now owns 15,606 shares of the company’s stock, valued at approximately $577,422. This trade represents a 76.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory A. Duffey bought 3,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average cost of $33.90 per share, for a total transaction of $101,700.00. Following the completion of the purchase, the director now owns 23,782 shares of the company’s stock, valued at approximately $806,209.80. The trade was a 14.44 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 9,785 shares of company stock valued at $352,751. 7.35% of the stock is currently owned by company insiders.

Franklin Financial Services Price Performance

Shares of Franklin Financial Services stock opened at $38.45 on Friday. The firm has a market cap of $170.72 million, a PE ratio of 15.44 and a beta of 0.18. The company’s fifty day simple moving average is $36.45 and its two-hundred day simple moving average is $34.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.60. Franklin Financial Services Co. has a 12-month low of $25.90 and a 12-month high of $40.76.

Franklin Financial Services (NASDAQ:FRAF) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.88 earnings per share for the quarter. Franklin Financial Services had a net margin of 9.64% and a return on equity of 7.91%. The business had revenue of $20.17 million for the quarter.

Franklin Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 2nd will be issued a $0.33 dividend. This is an increase from Franklin Financial Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.43%. Franklin Financial Services’s dividend payout ratio is 53.01%.

Franklin Financial Services Profile

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.