Fidelity Southern Corp. (LION) Stock Rating Upgraded by Zacks Investment Research
Fidelity Southern Corp. (NASDAQ:LION) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $20.00 target price on the financial services provider’s stock. Zacks Investment Research’s target price would indicate a potential upside of 11.11% from the company’s previous close.
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. “
LION has been the subject of several other research reports. FBR & Co reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Fidelity Southern Corp. in a research report on Friday, July 22nd. Keefe, Bruyette & Woods raised shares of Fidelity Southern Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Friday, July 22nd.
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Shares of Fidelity Southern Corp. (NASDAQ:LION) opened at 18.00 on Tuesday. The stock has a market cap of $468.63 million, a P/E ratio of 16.53 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. The company has a 50-day moving average of $18.15 and a 200 day moving average of $16.85.
Fidelity Southern Corp. (NASDAQ:LION) last posted its earnings results on Thursday, July 21st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ 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 research analysts forecast that Fidelity Southern Corp. will post $1.63 EPS for the current fiscal year.
In other news, Director Rankin M. Smith, Jr. sold 27,571 shares of the firm’s 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 completion of the sale, the director now owns 266,330 shares of the company’s stock, valued at $4,618,162.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rankin M. Smith, Jr. sold 52,078 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $17.46, for a total transaction of $909,281.88. Following the sale, the director now directly owns 238,330 shares of the company’s stock, valued at approximately $4,161,241.80. The disclosure for this sale can be found here. Insiders own 19.93% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Fidelity Southern Corp. by 7.4% in the second quarter. Swiss National Bank now owns 37,900 shares of the financial services provider’s stock worth $594,000 after buying an additional 2,600 shares during the last quarter. Context BH Capital Management LP bought a new stake in Fidelity Southern Corp. during the second quarter worth $1,551,000. California State Teachers Retirement System increased its stake in Fidelity Southern Corp. by 5.9% in the second quarter. California State Teachers Retirement System now owns 43,494 shares of the financial services provider’s stock worth $682,000 after buying an additional 2,441 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Fidelity Southern Corp. by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 104,709 shares of the financial services provider’s stock worth $1,641,000 after buying an additional 5,150 shares during the last quarter. Finally, Cutler Capital Management LLC increased its stake in Fidelity Southern Corp. by 67.7% in the second quarter. Cutler Capital Management LLC now owns 182,019 shares of the financial services provider’s stock worth $2,852,000 after buying an additional 73,459 shares during the last quarter. 60.05% of the stock is owned by institutional investors and hedge funds.
Fidelity Southern Corp. Company Profile
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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