Franklin Financial Services Co. (NASDAQ:FRAF) Sees Large Growth in Short Interest

Franklin Financial Services Co. (NASDAQ:FRAF) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 6,100 shares, an increase of 48.8% from the February 13th total of 4,100 shares. Based on an average daily trading volume, of 11,200 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Franklin Financial Services Price Performance

Shares of FRAF stock traded up $0.13 during trading hours on Friday, reaching $35.62. The company had a trading volume of 24,960 shares, compared to its average volume of 7,077. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a fifty day moving average of $34.86 and a 200-day moving average of $32.85. The company has a market capitalization of $157.30 million, a price-to-earnings ratio of 14.31 and a beta of 0.25. Franklin Financial Services has a 12-month low of $25.11 and a 12-month high of $38.41.

Franklin Financial Services (NASDAQ:FRAF) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.11 earnings per share for the quarter. Franklin Financial Services had a return on equity of 7.91% and a net margin of 9.64%.

Franklin Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Friday, February 7th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Friday, February 7th. Franklin Financial Services’s dividend payout ratio (DPR) is 51.41%.

Insider Buying and Selling

In other Franklin Financial Services news, President Craig W. Best purchased 6,756 shares of Franklin Financial Services stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of $37.00 per share, with a total value of $249,972.00. Following the acquisition, the president now owns 15,606 shares of the company’s stock, valued at $577,422. This trade represents a 76.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory A. Duffey purchased 3,000 shares of Franklin Financial Services stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $33.90 per share, with a total value of $101,700.00. Following the acquisition, the director now directly owns 23,782 shares in the company, valued at $806,209.80. This trade represents a 14.44 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,786 shares of company stock worth $352,784 in the last ninety days. 6.93% of the stock is owned by insiders.

Institutional Trading of Franklin Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. PL Capital Advisors LLC acquired a new position in Franklin Financial Services during the 4th quarter worth approximately $11,518,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Franklin Financial Services in the 3rd quarter worth approximately $205,000. Wilmington Savings Fund Society FSB purchased a new stake in Franklin Financial Services in the 4th quarter valued at approximately $65,000. Empowered Funds LLC lifted its stake in Franklin Financial Services by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 31,672 shares of the company’s stock valued at $954,000 after buying an additional 1,608 shares in the last quarter. Finally, Fourthstone LLC lifted its stake in Franklin Financial Services by 0.3% in the 3rd quarter. Fourthstone LLC now owns 440,745 shares of the company’s stock valued at $13,280,000 after buying an additional 1,507 shares in the last quarter. 24.80% of the stock is owned by hedge funds and other institutional investors.

Franklin Financial Services Company 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.