Fidelity Southern Corp. (LION) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Fidelity Southern Corporation, through its operating subsidiary Fidelity Bank, provides a wide range of banking, mortgage and investment services through branches in Atlanta, Georgia. Mortgage, construction, and automobile loans are also provided through offices in Jacksonville, Florida. “
Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upgraded shares of Fidelity Southern Corp. from a market perform rating to an outperform rating and set a $20.00 target price on the stock in a report on Friday, July 22nd. FBR & Co restated a hold rating and issued a $18.00 target price on shares of Fidelity Southern Corp. in a report on Friday, July 22nd.
Shares of Fidelity Southern Corp. (NASDAQ:LION) traded up 1.724% during midday trading on Thursday, reaching $18.585. 6,595 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $18.11 and a 200 day moving average price of $16.80. Fidelity Southern Corp. has a 12 month low of $14.01 and a 12 month high of $23.05. The firm has a market cap of $483.86 million, a PE ratio of 17.066 and a beta of 0.91.
Fidelity Southern Corp. (NASDAQ:LION) last announced its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.19. Fidelity Southern Corp. had a net margin of 10.97% and a return on equity of 12.41%. Equities research analysts predict that Fidelity Southern Corp. will post $1.63 earnings per share for the current year.
In other news, Director Rankin M. Smith, Jr. sold 52,078 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $17.46, for a total transaction of $909,281.88. Following the completion of the transaction, the director now directly owns 238,330 shares of the company’s stock, valued at approximately $4,161,241.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rankin M. Smith, Jr. sold 27,571 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $17.34, for a total transaction of $478,081.14. Following the transaction, the director now directly owns 266,330 shares of the company’s stock, valued at $4,618,162.20. The disclosure for this sale can be found here. Insiders own 19.93% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management increased its position in Fidelity Southern Corp. by 100.5% in the second quarter. LSV Asset Management now owns 969,644 shares of the financial services provider’s stock worth $15,194,000 after buying an additional 485,914 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fidelity Southern Corp. by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 690,714 shares of the financial services provider’s stock worth $10,824,000 after buying an additional 181,885 shares in the last quarter. Foundry Partners LLC bought a new position in Fidelity Southern Corp. during the third quarter worth $2,815,000. Context BH Capital Management LP bought a new position in Fidelity Southern Corp. during the second quarter worth $1,551,000. Finally, RMB Capital Management LLC increased its position in Fidelity Southern Corp. by 31.6% in the second quarter. RMB Capital Management LLC now owns 362,714 shares of the financial services provider’s stock worth $5,684,000 after buying an additional 87,150 shares in the last quarter. 59.46% of the stock is owned by hedge funds and other institutional investors.
About Fidelity Southern Corp.
Fidelity Southern Corporation is a bank holding company. The Company operates in the community banking segment. It conducts its operations through its subsidiary bank, Fidelity Bank (the Bank). The Bank provides various financial products and services for retail customers and small to medium-sized businesses, primarily in Atlanta and Jacksonville, Orlando and Sarasota-Bradenton, Florida markets.
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