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FSB

Franklin Financial Network

$35.50

-0.05 (-0.14%)

16:20
10/18/16
10/18
16:20
10/18/16
16:20

Franklin Financial Network reports Q3 tangible book value up 17%

Tangible book value per share increased 17.0% to $18.49 at the end of the quarter compared with $15.80 at the end of the Q3 of 2015.

  • 19

    Oct

FSB Franklin Financial Network
$35.50

-0.05 (-0.14%)

06/29/16
BOFA
06/29/16
DOWNGRADE
Target $35
BOFA
Neutral
Franklin Financial Network downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Franklin Financial to Neutral and lowering its price target to $35. The firm adjusted earnings estimates for the pushed out timeline of the Civic bank merger and a lower interest rate outlook, and expects shares to consolidate the significant gains since the company's 2015 IPO.
06/29/16
06/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on the today's top five analyst downgrades with this list compiled by The Fly: 1. HeartWare (HTWR) downgraded to Equal Weight from Overweight at Barclays by analyst Matthew Taylor, saying he does not expect a competing takeover bid to Medtronic's (MDT) offer. The analyst raised his price target for the shares to $58 from $35. Similarly, shares were downgraded to Market Perform from Outperform at Wells Fargo, with analyst Larry Biegelsen saying he sees a low likelihood that a higher bidder will emerge. The analyst believes Medtronic paid a fair valuation for HeartWare. HeartWare was also downgraded to Neutral from Buy at BTIG. 2. Esperion (ESPR) downgraded to Neutral from Overweight at JPMorgan by analyst Jessica Fye, who slashed her price target for shares to $15 from $50. The analyst says last night's regulatory update is a net negative. Disappointingly, the FDA did not sign off on the use of LDL-C lowering as an acceptable regulatory endpoint for approval of bempedoic acid for the treatment of statin-intolerant patients, Fye tells investors in a research note. The analyst still believes bempedoic acid is an effective LDL-C lowering agent, but now sees a drawn out path to approval in the U.S. Esperion was also downgraded to Underperform at Neutral at Credit Suisse by analyst Vamil Divan, who says the update on the development plans for bempedoic acid leaves him increasingly concerned about the products outlook in the U.S. market. The analyst was surprised that the FDA may not be willing to allow LDL-C as a surrogate endpoint for initial approval but believes there will be significant pressure, and limited upside, on shares until that certainty is obtained, and that process may take years to play out. Esperion was also downgraded to Sector Perform from Outperform at RBC Capital. 3. Comerica (CMA) downgraded to Underperform from Neutral at BofA/Merrill, which reduced its price target to $36 from $45. The firm's analyst lowered estimates 8% below consensus for 2016 and 17% below consensus in 2017 due to low rates that will pressure spread revenue growth, slower U.S. economic growth, and continued reserve build. The firm also downgraded Regions Financial (RF), Synovus (SNV), Texas Capital (TCBI) and Franklin Financial Network (FSB) to Neutral from Buy, as well as Zions Bancorp (ZION) to Underperform from Neutral. 4. comScore (SCOR) downgraded to Neutral from Positive at Susquehanna, citing uncertainty surrounding its accounting issues. The firm continues to like the long-term fundamental story, but with an unclear timeline for its resolution, they are moving to the sidelines. Susquehanna lowered its price target to $18 from $30 on comScore shares. 5. Harman (HAR) downgraded to Sector Perform from Outperform at RBC Capital partly based on the low number of new car launches next year, the firm's forecast for reduced production by the company's European customers, and the firm's reduction in its U.S. auto production versus its previous forecast. Additionally, the firm expects GM (GM) to delay a number of its connected car launches that had been slated for fiscal 2017 until fiscal 2018. The firm lowered its price target to $73 from $85. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/16
RAJA
09/06/16
INITIATION
Target $40
RAJA
Outperform
Franklin Financial Network initiated with an Outperform at Raymond James
Raymond James analyst Daniel Cardenas initiated Franklin Financial with an Outperform and $40 price target. The analyst said the company remains well positioned to continue to post double digit balance sheet and income statement growth, supported by a sound capital base and shareholder-oriented management team. He believes these factors leave the company well-positioned to experience a pickup in earnings power, tangible common equity levels, and tangible book value per share.

TODAY'S FREE FLY STORIES

PSTG

Pure Storage

$12.16

-0.17 (-1.38%)

14:12
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  • 09

    Dec

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  • 12

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    Dec

IX

ORIX Corp

$82.04

0.99 (1.22%)

14:10
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12/09
14:10
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14:10
Upgrade
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RIG

Transocean

$15.43

0.585 (3.94%)

14:10
12/09/16
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Options
Transocean short-term puts active as shares see strength »

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  • 12

    Dec

NMR

Nomura

$6.70

0.22 (3.40%)

14:08
12/09/16
12/09
14:08
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14:08
Upgrade
Nomura rating change  »

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MET

MetLife

$57.13

-0.06 (-0.10%)

14:06
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12/09
14:06
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14:06
Downgrade
MetLife rating change  »

MetLife downgraded to…

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  • 16

    Dec

14:05
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12/09
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14:05
General news
Treasury Action: next week's auctions could be difficult »

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QQQ

NASDAQ 100 Index Tracking Stock

$118.57

0.21 (0.18%)

14:00
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12/09
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Bullish yearend play in the PowerShares QQQ ETF »

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13:50
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12/09
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13:50
General news
Action Economics Survey results: equities continue to charge ahead »

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CFX

Colfax

$39.04

-0.245 (-0.62%)

13:49
12/09/16
12/09
13:49
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13:49
Conference/Events
Colfax to hold a conference call »

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  • 16

    Dec

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General news
FX Action: USD-JPY »

FX Action: USD-JPY moved…

NRE

Northstar Realty Europe Corp.

$12.13

0.36 (3.06%)

, NSAM

NorthStar Asset Management

$15.09

0.09 (0.60%)

13:44
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Hot Stocks
Bow Street confirms $13 per share offer for Northstar Realty Europe Corp. »

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NRE

Northstar Realty Europe Corp.

$12.13

0.36 (3.06%)

NSAM

NorthStar Asset Management

$15.09

0.09 (0.60%)

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  • 06

    Dec

CALA

Calithera Biosciences

$3.20

-0.05 (-1.54%)

13:44
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12/09
13:44
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13:44
Conference/Events
Calithera Biosciences to hold a conference call »

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  • 12

    Dec

BAC

Bank of America

$23.03

0.075 (0.33%)

13:40
12/09/16
12/09
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13:40
Options
Eight year highs and flat skew draw ratio call spreader in Bank of America »

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  • 13

    Jan

VIA

Viacom

$42.60

0.45 (1.07%)

, VIAB

Viacom

$38.80

0.79 (2.08%)

13:37
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Box Office Battle: 'Office Christmas Party' looks to topple 'Moana' »

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VIA

Viacom

$42.60

0.45 (1.07%)

VIAB

Viacom

$38.80

0.79 (2.08%)

CMCSK

Comcast

CMCSA

Comcast

$69.23

-0.1 (-0.14%)

SNE

Sony

$29.40

0.24 (0.82%)

FOXA

21st Century Fox

$28.64

0.53 (1.89%)

FOX

21st Century Fox

$28.48

0.53 (1.90%)

DIS

Disney

$103.84

0.46 (0.44%)

TWX

Time Warner

$94.89

0.34 (0.36%)

LGF

Lionsgate

03/08/13
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03/06/13
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VHC

VirnetX

$2.95

-0.35 (-10.61%)

, AAPL

Apple

$112.12

1.09 (0.98%)

13:32
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VirnetX says U.S. Federal Circuit Appeals Court issued three appeal decisions »

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VHC

VirnetX

$2.95

-0.35 (-10.61%)

AAPL

Apple

$112.12

1.09 (0.98%)

03/08/13
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03/06/13
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  • 13

    Mar

AFL

Aflac

$68.79

-0.83 (-1.19%)

13:25
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Options
AFLAC call volume above normal and directionally bullish »

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13:25
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General news
Energy Action: Weekly Baker-Hughes rig count »

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TTI

TETRA

$4.61

-0.4 (-7.98%)

13:20
12/09/16
12/09
13:20
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13:20
Downgrade
TETRA rating change  »

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  • 09

    Dec

$NYE

NYSE Market Internals

13:16
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Technical Analysis
NYSE market internals summary »

Breadth is mixed with…

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$NSD

NASDAQ Market Internals

13:16
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Technical Analysis
NASDAQ market internals summary »

Volume is extremely heavy…

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SPY

SPDR S&P 500 ETF Trust

$225.83

0.68 (0.30%)

, XLF

Financial Select Sector

$23.64

-0.06 (-0.25%)

13:13
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Technical Analysis
On The Fly: ETF fund flow highlights »

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SPY

SPDR S&P 500 ETF Trust

$225.83

0.68 (0.30%)

XLF

Financial Select Sector

$23.64

-0.06 (-0.25%)

XLP

Consumer Staples Sector SPDR

$51.86

0.56 (1.09%)

XLI

Industrial Select Sector SPDR

$63.87

0.18 (0.28%)

VOO

Vanguard S&P 500 ETF

$207.39

0.65 (0.31%)

JNK

SPDR Barclays High Yield Bond

$36.47

0.0085 (0.02%)

IEMG

iShares Core MSCI Emerging Markets

$43.94

-0.165 (-0.37%)

QQQ

NASDAQ 100 Index Tracking Stock

$118.57

0.21 (0.18%)

USO

United States Oil Fund

$11.42

0.11 (0.97%)

XOP

SPDR Oil Exploration and Production Fund

$43.19

-0.16 (-0.37%)

UWTI

VelocityShares 3x Long Crude Oil ETN

IBB

iShares Nasdaq Biotechnology Index

$268.52

2.24 (0.84%)

GLD

SPDR Gold Trust

$110.63

-0.94 (-0.84%)

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TTI

TETRA

$4.61

-0.4 (-7.98%)

13:12
12/09/16
12/09
13:12
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13:12
Downgrade
TETRA rating change  »

TETRA downgraded to Hold…

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  • 09

    Dec

IRM

Iron Mountain

$34.71

-0.28 (-0.80%)

13:11
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13:11
Hot Stocks
Iron Mountain receives approval to sell C21 to Oasis Group »

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BIIB

Biogen

$289.54

4.24 (1.49%)

13:10
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Hot Stocks
Biogen off highs after disclosing serious adverse event in Alzheimer's trial »

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MGM

MGM Resorts

$29.28

0.63 (2.20%)

13:10
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Options
MGM calls active as shares move off session highs »

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