Fidelity Southern (NASDAQ:LION) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
Several other equities analysts also recently issued reports on the stock. Sandler O’Neill set a $25.00 price objective on shares of Fidelity Southern and gave the company a “hold” rating in a report on Monday, January 22nd. Zacks Investment Research raised shares of Fidelity Southern from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Saturday, January 13th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.00.
Shares of Fidelity Southern (LION) traded down $0.14 during midday trading on Wednesday, reaching $24.00. 69,785 shares of the company were exchanged, compared to its average volume of 72,544. Fidelity Southern has a 12-month low of $20.08 and a 12-month high of $24.66. The stock has a market capitalization of $647.77, a P/E ratio of 16.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.02 and a quick ratio of 0.93.
In other news, insider James B. Miller, Jr. sold 35,700 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $22.11, for a total value of $789,327.00. Following the transaction, the insider now directly owns 2,876,372 shares of the company’s stock, valued at $63,596,584.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Buchanan sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $20.75, for a total transaction of $83,000.00. Following the completion of the transaction, the insider now directly owns 254,693 shares in the company, valued at $5,284,879.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 10,546 shares of company stock worth $19,596 and have sold 78,412 shares worth $1,322,897. Company insiders own 18.77% of the company’s stock.
Several large investors have recently bought and sold shares of LION. Meeder Asset Management Inc. lifted its stake in shares of Fidelity Southern by 332.4% in the third quarter. Meeder Asset Management Inc. now owns 5,072 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,899 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Fidelity Southern by 60.7% in the second quarter. BNP Paribas Arbitrage SA now owns 6,440 shares of the financial services provider’s stock worth $147,000 after buying an additional 2,432 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fidelity Southern in the second quarter worth about $239,000. Laurion Capital Management LP purchased a new position in shares of Fidelity Southern in the second quarter worth about $243,000. Finally, QS Investors LLC purchased a new position in shares of Fidelity Southern in the second quarter worth about $258,000. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
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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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