Franklin Financial Services Co. (NASDAQ:FRAF) Short Interest Down 8.6% in October

Franklin Financial Services Co. (NASDAQ:FRAF) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,300 shares, a drop of 8.6% from the October 15th total of 5,800 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,800 shares, the days-to-cover ratio is currently 1.4 days.

Franklin Financial Services Trading Up 0.7 %

FRAF traded up $0.23 during midday trading on Tuesday, hitting $33.54. The company’s stock had a trading volume of 265 shares, compared to its average volume of 5,399. Franklin Financial Services has a 52-week low of $25.11 and a 52-week high of $33.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $31.36 and a two-hundred day moving average price of $29.72. The firm has a market cap of $148.25 million, a P/E ratio of 10.51 and a beta of 0.30.

Franklin Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 1st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.28 annualized dividend and a yield of 3.82%. Franklin Financial Services’s dividend payout ratio is presently 40.38%.

Insider Activity

In related news, Director Allan E. Jennings, Jr. bought 1,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $30.51 per share, for a total transaction of $30,510.00. Following the acquisition, the director now owns 28,250 shares in the company, valued at $861,907.50. This represents a 3.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,135 shares of company stock worth $34,636 over the last 90 days. 6.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FRAF. Barclays PLC acquired a new position in shares of Franklin Financial Services in the 3rd quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Franklin Financial Services in the second quarter worth $58,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Franklin Financial Services in the 3rd quarter worth approximately $205,000. Renaissance Technologies LLC lifted its stake in Franklin Financial Services by 25.0% during the second 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. Finally, 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 worth $954,000 after acquiring an additional 1,608 shares in the last quarter. 24.80% of the stock is owned by institutional investors and hedge funds.

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.