Gregory A. Duffey, a director at Franklin Financial Services Corp (NASDAQ:FRAF), has acquired additional shares of the company's common stock. According to a recent filing, Duffey purchased 30 shares on December 4 at a price of $33.55 per share, totaling approximately $1,006. The purchase comes as FRAF trades near its 52-week high of $33.99, having gained over 30% in the past six months. InvestingPro analysis indicates the stock is trading slightly above its Fair Value. Following this transaction, Duffey now owns a total of 20,690 shares, which includes 124 shares acquired through the company's Dividend Reinvestment Plan (DRIP). The $148.32M market cap company maintains a solid 3.81% dividend yield and has consistently paid dividends for 41 consecutive years. For more detailed insights and additional financial metrics, check out InvestingPro, which offers 6 more key investment tips for FRAF.
"In other recent news, Franklin Financial Services Corp announced the forthcoming retirement of its President and CEO, Timothy G. Henry, set for April 2025. In response to this development, the company's board of directors has initiated a search for Henry's successor. Furthermore, Franklin Financial has executed a substantial reshuffling of its investment portfolio. The company sold approximately $46.7 million in lower-yielding U.S. Treasury debt, resulting in an estimated after-tax loss of $3.4 million. The proceeds, totaling around $42.4 million, were reinvested in higher-yielding securities. These developments are part of the company's strategic move to offset the loss from the sale within approximately 2.3 years. The transaction is not expected to impact the stockholders' equity or the book value per share. Moreover, Franklin Financial has maintained its quarterly dividend, declaring a $.32 per share regular cash dividend, mirroring the previous quarter's distribution."
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