Brokerages Anticipate Fidelity Southern Corporation (NASDAQ:LION) Will Announce Quarterly Sales of $70.77 Million
Wall Street brokerages expect Fidelity Southern Corporation (NASDAQ:LION) to post sales of $70.77 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Fidelity Southern Corporation’s earnings, with the highest sales estimate coming in at $73.10 million and the lowest estimate coming in at $68.70 million. Fidelity Southern Corporation reported sales of $61.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 20th.
According to Zacks, analysts expect that Fidelity Southern Corporation will report full-year sales of $70.77 million for the current year, with estimates ranging from $278.29 million to $291.10 million. For the next year, analysts anticipate that the firm will post sales of $292.71 million per share, with estimates ranging from $278.54 million to $304.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Fidelity Southern Corporation.
Fidelity Southern Corporation (NASDAQ:LION) last issued its earnings results on Thursday, April 20th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.09. Fidelity Southern Corporation had a net margin of 14.60% and a return on equity of 13.90%. The company had revenue of $75 million during the quarter, compared to analysts’ expectations of $63.39 million. Fidelity Southern Corporation’s revenue for the quarter was up 26.7% on a year-over-year basis.
A number of analysts recently commented on the stock. Stephens reiterated a “hold” rating and issued a $24.00 target price on shares of Fidelity Southern Corporation in a report on Friday, June 23rd. Zacks Investment Research lowered shares of Fidelity Southern Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 23rd.
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In other Fidelity Southern Corporation news, insider H Palmer Proctor, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $23.09, for a total value of $346,350.00. Following the transaction, the insider now owns 79,037 shares in the company, valued at approximately $1,824,964.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David Buchanan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $23.67, for a total transaction of $118,350.00. Following the completion of the transaction, the insider now owns 213,693 shares in the company, valued at approximately $5,058,113.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,000 shares of company stock worth $668,110. Company insiders own 18.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC raised its position in Fidelity Southern Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,951 shares of the financial services provider’s stock valued at $111,000 after buying an additional 324 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Fidelity Southern Corporation during the fourth quarter valued at $182,000. New York State Teachers Retirement System bought a new position in Fidelity Southern Corporation during the fourth quarter valued at $192,000. A.R.T. Advisors LLC bought a new position in Fidelity Southern Corporation during the fourth quarter valued at $213,000. Finally, OppenheimerFunds Inc. bought a new position in Fidelity Southern Corporation during the first quarter valued at $226,000. Hedge funds and other institutional investors own 68.59% of the company’s stock.
Shares of Fidelity Southern Corporation (NASDAQ:LION) traded up 1.23% on Friday, reaching $23.13. 22,057 shares of the company’s stock were exchanged. Fidelity Southern Corporation has a 1-year low of $14.80 and a 1-year high of $24.95. The company has a market capitalization of $609.82 million, a P/E ratio of 13.53 and a beta of 1.33. The stock’s 50-day moving average price is $22.20 and its 200-day moving average price is $22.77.
Fidelity Southern Corporation Company Profile
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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