Fidelity Southern Corp. (LION) Downgraded by Zacks Investment Research
Fidelity Southern Corp. (NASDAQ:LION) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday.
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 analysts have also recently issued research reports about the company. FBR & Co reiterated a “hold” rating and set a $18.00 target price on shares of Fidelity Southern Corp. in a research report on Friday, July 22nd. Keefe, Bruyette & Woods upgraded Fidelity Southern Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, July 22nd.
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Shares of Fidelity Southern Corp. (NASDAQ:LION) traded down 3.13% during mid-day trading on Thursday, reaching $18.27. The company’s stock had a trading volume of 44,402 shares. The company has a 50-day moving average price of $18.11 and a 200 day moving average price of $16.80. The company has a market cap of $475.66 million, a PE ratio of 16.78 and a beta of 0.91. Fidelity Southern Corp. has a 52-week low of $14.01 and a 52-week high of $23.05.
Fidelity Southern Corp. (NASDAQ:LION) last released its earnings results 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 return on equity of 12.41% and a net margin of 10.97%. Equities analysts expect that Fidelity Southern Corp. will post $1.63 earnings per share for the current year.
In related news, Director Rankin M. Smith, Jr. sold 27,571 shares of the business’s stock in a transaction on Monday, August 8th. The stock was 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 in the company, valued at approximately $4,618,162.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rankin M. Smith, Jr. sold 52,078 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $17.46, for a total value of $909,281.88. Following the transaction, the director now owns 238,330 shares in the company, valued at $4,161,241.80. The disclosure for this sale can be found here. Corporate insiders own 19.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LION. LSV Asset Management increased 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 period. JPMorgan Chase & Co. increased 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 period. Foundry Partners LLC acquired a new position in shares of Fidelity Southern Corp. during the third quarter valued at $2,815,000. Context BH Capital Management LP acquired a new position in shares of Fidelity Southern Corp. during the second quarter valued at $1,551,000. Finally, RMB Capital Management LLC increased its position in shares of 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 valued at $5,684,000 after buying an additional 87,150 shares during the period. Hedge funds and other institutional investors own 59.46% of the company’s stock.
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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