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Gregory A. Duffey, a director at Franklin Financial Services Corp (NASDAQ:FRAF), recently acquired 3,000 shares of the company’s common stock. The transaction, which took place on February 5, 2025, was executed at a price of $33.90 per share, amounting to a total purchase value of $101,700. The stock has since appreciated to $36.52, trading near its 52-week high of $37.11. According to InvestingPro data, FRAF has delivered impressive returns with a 23% gain year-to-date. Following this acquisition, Duffey’s direct ownership in the company increased to 23,782 shares. This move reflects Duffey’s continued investment in the Chambersburg, Pennsylvania-based financial institution, which boasts a 42-year track record of consecutive dividend payments and currently offers a 3.5% dividend yield. InvestingPro subscribers can access additional insider trading signals and 6 more exclusive tips about FRAF’s current market position.
In other recent news, Franklin Financial Services Corp declared a regular cash dividend for the first quarter of 2025, maintaining the payout at $.32 per share, as revealed in a recent SEC filing. Concurrently, the company announced a new share repurchase program, authorizing the buyback of up to 150,000 shares of the company’s common stock, a process set to start in January 2025 and expected to continue until the end of the year. These developments are part of Franklin Financial’s capital management strategy, reflecting its commitment to shareholder value and confidence in the corporation’s financial stability.
In another development, Franklin Financial appointed Craig W. Best as the new President and future Chief Executive Officer, succeeding Timothy G. Henry, who is set to retire in April 2025. Best, with his extensive experience in the banking industry, will assume the role of President immediately and take over as CEO following Henry’s retirement. His employment agreement includes an initial annual base salary of $414,986, set to increase to $523,198 by April 2025, along with provisions for bonuses, benefits, relocation expenses, a company car, and a restricted stock grant of 1,500 shares of Franklin Financial common stock.
These are recent developments that highlight Franklin Financial’s strategic decisions in capital management and leadership transition.
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