Banc Funds Co. LLC Reduces Stake in Fidelity Southern Co. (LION)

Banc Funds Co. LLC lowered its stake in shares of Fidelity Southern Co. (NASDAQ:LION) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,153,443 shares of the financial services provider’s stock after selling 74,880 shares during the quarter. Fidelity Southern comprises about 1.7% of Banc Funds Co. LLC’s holdings, making the stock its 6th largest position. Banc Funds Co. LLC owned 4.23% of Fidelity Southern worth $28,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of Fidelity Southern by 5.6% during the 2nd quarter. Legal & General Group Plc now owns 43,420 shares of the financial services provider’s stock valued at $1,105,000 after acquiring an additional 2,311 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Fidelity Southern by 3.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 107,663 shares of the financial services provider’s stock valued at $2,736,000 after acquiring an additional 3,465 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Fidelity Southern by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 169,488 shares of the financial services provider’s stock valued at $3,910,000 after acquiring an additional 3,743 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Fidelity Southern by 16.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 27,191 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 3,884 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Fidelity Southern during the 2nd quarter valued at about $107,000. 67.08% of the stock is owned by institutional investors.

A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of Fidelity Southern from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine downgraded shares of Fidelity Southern from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Zacks Investment Research downgraded shares of Fidelity Southern from a “buy” rating to a “hold” rating in a research report on Thursday, November 22nd. Finally, Stephens reissued a “buy” rating and set a $31.00 target price on shares of Fidelity Southern in a research report on Thursday, October 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Fidelity Southern presently has a consensus rating of “Hold” and an average target price of $27.67.

LION opened at $23.29 on Friday. The company has a market cap of $619.58 million, a P/E ratio of 17.78 and a beta of 0.95. Fidelity Southern Co. has a 1 year low of $21.23 and a 1 year high of $27.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.00 and a quick ratio of 0.92.

Fidelity Southern (NASDAQ:LION) last posted its earnings results on Thursday, October 18th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The firm had revenue of $72.41 million during the quarter, compared to the consensus estimate of $71.10 million. Fidelity Southern had a net margin of 14.88% and a return on equity of 9.95%. On average, analysts expect that Fidelity Southern Co. will post 1.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Friday, November 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, November 1st. Fidelity Southern’s dividend payout ratio (DPR) is presently 36.64%.

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Fidelity Southern Company Profile

Fidelity Southern Corporation operates as the holding company for Fidelity Bank that provides financial products and services primarily for individuals, and small and medium-sized businesses in the United States. The company accepts noninterest-bearing demand and interest-bearing demand accounts, including money market accounts and savings deposits; and time deposits.

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Institutional Ownership by Quarter for Fidelity Southern (NASDAQ:LION)

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