Cutler Capital Management LLC Decreases Stock Holdings in Franklin Financial Services Co. (NASDAQ:FRAF)

Cutler Capital Management LLC lowered its position in shares of Franklin Financial Services Co. (NASDAQ:FRAF - Free Report) by 67.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,909 shares of the company's stock after selling 14,264 shares during the period. Cutler Capital Management LLC owned 0.16% of Franklin Financial Services worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FRAF. Barclays PLC acquired a new stake in Franklin Financial Services during the third quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Franklin Financial Services during the 4th quarter worth $65,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Franklin Financial Services by 31.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,926 shares of the company's stock worth $267,000 after purchasing an additional 2,127 shares during the period. PL Capital Advisors LLC acquired a new position in Franklin Financial Services in the fourth quarter valued at about $385,000. Finally, Empowered Funds LLC raised its stake in Franklin Financial Services by 1.9% in the fourth quarter. Empowered Funds LLC now owns 32,272 shares of the company's stock valued at $965,000 after purchasing an additional 600 shares in the last quarter. 24.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Franklin Financial Services

In related news, President Craig W. Best bought 6,756 shares of the company's stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $37.00 per share, with a total value of $249,972.00. Following the completion of the acquisition, the president now owns 15,606 shares of the company's stock, valued at $577,422. The trade was a 76.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory A. Duffey purchased 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were bought at an average cost of $33.90 per share, for a total transaction of $101,700.00. Following the completion of the acquisition, the director now directly owns 23,782 shares in the company, valued at $806,209.80. The trade was a 14.44 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,785 shares of company stock valued at $352,751 over the last ninety days. 7.35% of the stock is owned by corporate insiders.

Franklin Financial Services Price Performance

Franklin Financial Services stock traded up $0.50 during trading hours on Monday, reaching $34.50. 4,788 shares of the stock were exchanged, compared to its average volume of 8,358. The stock has a 50 day moving average of $36.24 and a two-hundred day moving average of $33.37. The company has a market cap of $153.18 million, a P/E ratio of 13.86 and a beta of 0.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.60. Franklin Financial Services Co. has a twelve month low of $25.11 and a twelve month high of $38.41.

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

Franklin Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Friday, February 7th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 7th. This represents a $1.28 annualized dividend and a dividend yield of 3.71%. Franklin Financial Services's dividend payout ratio is currently 51.41%.

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.