Fidelity Southern Corp. (NASDAQ:LION) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $20.00 price target on the financial services provider’s stock. Zacks Investment Research’s price target suggests a potential upside of 10.38% from the company’s current price.

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. “

Several other analysts have also recently issued reports on LION. Keefe, Bruyette & Woods upgraded Fidelity Southern Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, July 22nd. FBR & Co reiterated a “hold” rating and issued a $18.00 price objective on shares of Fidelity Southern Corp. in a research note on Friday, July 22nd.

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Shares of Fidelity Southern Corp. (NASDAQ:LION) traded up 0.67% during mid-day trading on Wednesday, reaching $18.12. The company’s stock had a trading volume of 23,073 shares. Fidelity Southern Corp. has a 52 week low of $14.01 and a 52 week high of $23.05. The company’s 50-day moving average is $17.68 and its 200-day moving average is $16.52. The stock has a market capitalization of $471.75 million, a price-to-earnings ratio of 16.64 and a beta of 0.87.

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 (EPS) 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 analysts predict that Fidelity Southern Corp. will post $1.63 EPS for the current year.

In other Fidelity Southern Corp. news, Director Rankin M. Smith, Jr. sold 52,078 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $17.46, for a total transaction of $909,281.88. Following the transaction, the director now owns 238,330 shares of the company’s stock, valued at $4,161,241.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rankin M. Smith, Jr. sold 27,571 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $17.34, for a total value of $478,081.14. Following the transaction, the director now directly owns 266,330 shares in the company, valued at approximately $4,618,162.20. The disclosure for this sale can be found here. 19.93% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. LSV Asset Management raised its position in shares of 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 valued at $15,194,000 after buying an additional 485,914 shares during the last quarter. RMB Capital Management LLC raised its position in shares of Fidelity Southern Corp. by 352.9% in the first quarter. RMB Capital Management LLC now owns 275,564 shares of the financial services provider’s stock valued at $4,420,000 after buying an additional 214,726 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 valued at $10,824,000 after buying an additional 181,885 shares during the last quarter. Context BH Capital Management LP purchased a new position in shares of Fidelity Southern Corp. during the second quarter valued at about $1,551,000. Finally, Bank of Montreal Can purchased a new position in shares of Fidelity Southern Corp. during the second quarter valued at about $1,155,000. 59.46% of the stock is currently owned by 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.

5 Day Chart for NASDAQ:LION

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