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

Franklin Financial Services Co. (NASDAQ:FRAF) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,800 shares, an increase of 20.8% from the September 30th total of 4,800 shares. Based on an average daily trading volume, of 4,300 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.1% of the shares of the company are short sold.

Franklin Financial Services Trading Down 0.5 %

FRAF traded down $0.16 during midday trading on Wednesday, reaching $32.61. 2,441 shares of the company’s stock traded hands, compared to its average volume of 5,512. The firm has a fifty day moving average of $30.93 and a two-hundred day moving average of $29.37. The stock has a market capitalization of $143.78 million, a price-to-earnings ratio of 10.29 and a beta of 0.32. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.93 and a quick ratio of 0.93. Franklin Financial Services has a 52 week low of $25.11 and a 52 week high of $35.00.

Franklin Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 1st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, November 1st. Franklin Financial Services’s dividend payout ratio is currently 40.38%.

Insider Buying and Selling at Franklin Financial Services

In related news, Director Allan E. Jennings, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $30.51 per share, for a total transaction of $30,510.00. Following the purchase, the director now owns 28,250 shares in the company, valued at $861,907.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 1,102 shares of company stock worth $33,649 over the last ninety days. 6.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Franklin Financial Services during the 2nd quarter valued at $58,000. Empowered Funds LLC boosted its stake in Franklin Financial Services by 8.1% during the 1st quarter. Empowered Funds LLC now owns 27,904 shares of the company’s stock valued at $731,000 after purchasing an additional 2,100 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Franklin Financial Services by 25.0% during the 2nd quarter. Renaissance Technologies LLC now owns 16,506 shares of the company’s stock valued at $467,000 after purchasing an additional 3,306 shares during the last quarter. Vanguard Group Inc. boosted its stake in Franklin Financial Services by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 149,730 shares of the company’s stock valued at $3,923,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Franklin Financial Services by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 40,030 shares of the company’s stock valued at $1,132,000 after purchasing an additional 5,183 shares during the last quarter. Institutional investors own 24.80% of the company’s stock.

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.