In a recent transaction, Gregory A. Duffey, Director at Franklin Financial Services Corp (OTC:FRAF), acquired shares of the company's common stock. The purchase, dated September 4, 2024, involved 33 shares at a price of $30.51 per share, totaling approximately $1,006.
This transaction has increased Duffey's direct ownership in Franklin Financial Services Corp to 20,401 shares. It's noteworthy that this total includes an additional 133 shares purchased through the company's Dividend Reinvestment Plan (DRIP), as indicated by the footnotes in the filing.
Franklin Financial Services Corp, headquartered in Chambersburg, Pennsylvania, operates as a state commercial bank. The stock trades under the ticker symbol FRAF on the OTC market.
Investors often monitor the buying and selling activities of company insiders like directors and executives, as these transactions can provide insights into their perspective on the company's future performance. The recent acquisition by Director Duffey offers such a data point for those keeping an eye on Franklin Financial Services Corp's stock movements.
In other recent news, Franklin Financial Services Corp has maintained its regular quarterly cash dividend at $0.32 per share for the third quarter of 2024, a move consistent with previous quarters. This announcement underscores the company's commitment to shareholder value and its stable financial position. The dividend will be paid to shareholders of record as of the close of business on August 2, 2024.
In terms of earnings, Franklin Financial reported a slight increase in its Q1 earnings with net income rising to $3.4 million, marking a 2.1% year-over-year growth. Notably, the company's total assets exceeded the $2 billion mark for the first time in a quarterly report. However, there was a decrease in the return on average assets (ROA) and the return on average equity (ROE) compared to the first quarter of 2023.
Other recent developments include a provision for credit losses reported at $452 thousand, lower than the previous quarter, and total net loans saw a 1.6% increase from the end of 2023. Lastly, Franklin Financial has announced a new community office expected to be operational by the year's end.
InvestingPro Insights
Amidst the insider trading activities, Franklin Financial Services Corp (OTC:FRAF) presents a blend of stability and recent positive performance metrics that may interest investors. An InvestingPro Tip highlights the company's impressive record of maintaining dividend payments for 41 consecutive years, signaling a commitment to shareholder returns. Additionally, Franklin Financial Services Corp has demonstrated a strong return over the last three months, with a notable 23.98% price total return, showcasing the stock's recent uptrend.
The company's market capitalization stands at $142.5 million, and it has reported a solid operating income margin of 24.61% over the last twelve months as of Q2 2024. These figures suggest a robust operational efficiency. Moreover, with a price-to-earnings (P/E) ratio of 10.52 and an adjusted P/E ratio of 10.72 for the same period, the stock may appeal to value investors seeking reasonable valuations in the current market environment.
For those interested in further insights and metrics, InvestingPro offers additional tips on Franklin Financial Services Corp, which can be found at InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.