Fidelity Southern Co. (LION) Expected to Post Quarterly Sales of $70.77 Million
Wall Street brokerages expect Fidelity Southern Co. (NASDAQ:LION) to announce sales of $70.77 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Fidelity Southern’s earnings. The highest sales estimate is $73.1 million and the lowest is $68.7 million. Fidelity Southern posted sales of $61.81 million in the same quarter last year, which suggests a positive year over year growth rate of 14.5%. The business is expected to announce its next quarterly earnings report on Thursday, July 20th.
According to Zacks, analysts expect that Fidelity Southern will report full year sales of $70.77 million for the current fiscal year, with estimates ranging from $278.29 million to $291.1 million. For the next fiscal year, analysts anticipate that the firm will post sales of $292.71 million per share, with estimates ranging from $278.54 million to $304.7 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Fidelity Southern.
Fidelity Southern (NASDAQ:LION) last posted its quarterly earnings data on Thursday, April 20th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The company had revenue of $75 million for the quarter, compared to analyst estimates of $63.39 million. Fidelity Southern had a net margin of 13.34% and a return on equity of 14.40%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Fidelity Southern from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a report on Monday, January 30th. FBR & Co reiterated a “hold” rating and set a $24.50 price target on shares of Fidelity Southern in a report on Monday, January 23rd. Finally, Stephens reiterated a “hold” rating on shares of Fidelity Southern in a report on Friday, April 21st.
In related news, insider David Buchanan sold 4,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $22.79, for a total value of $91,160.00. Following the completion of the transaction, the insider now directly owns 218,693 shares in the company, valued at $4,984,013.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 526 shares of company stock valued at $11,991 over the last 90 days. 19.93% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. RMB Capital Management LLC raised its position in shares of Fidelity Southern by 237.9% in the third quarter. RMB Capital Management LLC now owns 1,225,539 shares of the financial services provider’s stock worth $22,537,000 after buying an additional 862,825 shares during the last quarter. EJF Capital LLC raised its position in shares of Fidelity Southern by 100.0% in the third quarter. EJF Capital LLC now owns 1,000,000 shares of the financial services provider’s stock worth $18,390,000 after buying an additional 500,000 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Fidelity Southern during the fourth quarter worth approximately $276,000. Siena Capital Management LLC purchased a new position in shares of Fidelity Southern during the fourth quarter worth approximately $6,489,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Fidelity Southern during the fourth quarter worth approximately $1,388,000. Institutional investors and hedge funds own 63.11% of the company’s stock.
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Shares of Fidelity Southern (NASDAQ:LION) opened at 21.57 on Friday. The stock has a market cap of $568.02 million, a price-to-earnings ratio of 12.61 and a beta of 1.05. The stock’s 50 day moving average is $21.88 and its 200-day moving average is $22.58. Fidelity Southern has a 1-year low of $14.45 and a 1-year high of $24.95.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Tuesday, May 2nd will be paid a $0.12 dividend. The ex-dividend date is Friday, April 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.23%. Fidelity Southern’s payout ratio is 32.21%.
About Fidelity Southern
Fidelity Southern Corporation is a bank holding company. The Company conducts its operations through its subsidiary bank, Fidelity Bank, which is a state chartered bank (the Bank). The Company provides an array of financial products and services for business and retail customers in the metropolitan Atlanta and Jacksonville, Orlando and Sarasota-Bradenton, Florida markets.
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