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Karen K. Carmack, the Senior Vice President and Chief Human Resources Officer at Franklin Financial Services Corp (NASDAQ:FRAF), recently acquired shares in the company. According to a filing with the Securities and Exchange Commission, Carmack purchased one share of common stock at $37.26, near the stock’s 52-week high of $38.41. The company, with a market capitalization of $167.56 million, has seen impressive gains with a 27% return year-to-date. InvestingPro analysis indicates the stock is currently trading in overbought territory. This transaction increased her total direct ownership to 3,744 shares. The acquisition also includes 23 shares obtained through Franklin Financial’s 2010 Dividend Reinvestment and Stock Purchase Plan. The company maintains a solid 3.4% dividend yield and has consistently paid dividends for 42 consecutive years. For deeper insights into FRAF’s insider trading patterns and financial health metrics, check out InvestingPro, which offers additional exclusive tips and analysis.
In other recent news, Franklin Financial Services Corp has declared a regular cash dividend for the first quarter of 2025, maintaining the payout at $0.32 per share, consistent with the previous quarter. Shareholders on record by February 7, 2025, will receive the dividend on February 26, 2025. Alongside this, Franklin Financial announced a new share repurchase program, authorizing the buyback of up to 150,000 shares of its common stock, which will begin on January 17, 2025. These financial moves are part of the company’s strategy to manage capital effectively and reflect confidence in its financial stability.
In another development, Franklin Financial has appointed Craig W. Best as the new President and CEO, succeeding Timothy G. Henry, who will retire on April 29, 2025. Best, who has extensive experience in the banking sector, will take over as CEO after Henry’s retirement. His employment agreement includes an initial annual base salary of $414,986, which will rise to $523,198 by April 30, 2025, along with other benefits and a restricted stock grant. These recent developments were detailed in the company’s filings with the SEC.
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