Franklin Financial Services (NASDAQ:FRAF) Given New $64.00 Price Target at Hovde Group

Franklin Financial Services (NASDAQ:FRAF) had its target price lifted by Hovde Group from $59.00 to $64.00 in a research note published on Monday morning, Marketbeat reports. Hovde Group currently has an outperform rating on the stock.

Several other research firms have also commented on FRAF. Weiss Ratings reiterated a “buy (b)” rating on shares of Franklin Financial Services in a research report on Wednesday, January 28th. Wall Street Zen upgraded Franklin Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Franklin Financial Services presently has a consensus rating of “Buy” and an average target price of $64.00.

Franklin Financial Services Trading Up 1.3%

Shares of Franklin Financial Services stock opened at $56.76 on Monday. The firm has a market cap of $254.85 million, a price-to-earnings ratio of 10.63 and a beta of -0.10. The business has a 50-day moving average price of $52.40 and a 200-day moving average price of $50.80. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.14. Franklin Financial Services has a twelve month low of $33.44 and a twelve month high of $60.00.

Franklin Financial Services (NASDAQ:FRAF) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.14. The firm had revenue of $23.88 million during the quarter, compared to analyst estimates of $23.30 million. Franklin Financial Services had a return on equity of 14.40% and a net margin of 17.73%.

Franklin Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Friday, May 1st will be given a $0.34 dividend. This is an increase from Franklin Financial Services’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, May 1st. Franklin Financial Services’s dividend payout ratio (DPR) is 24.72%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in shares of Franklin Financial Services by 69.2% during the fourth quarter. Russell Investments Group Ltd. now owns 863 shares of the company’s stock valued at $43,000 after buying an additional 353 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Franklin Financial Services by 84.1% during 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. Jones Financial Companies Lllp purchased a new position in shares of Franklin Financial Services during the third quarter valued at approximately $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Franklin Financial Services during the second quarter valued at approximately $79,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Franklin Financial Services during the second quarter valued at approximately $100,000. Hedge funds and other institutional investors 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.