Fidelity Southern (LION) Stock Rating Upgraded by Zacks Investment Research

Fidelity Southern (NASDAQ:LION) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

Shares of Fidelity Southern (LION) opened at $21.80 on Tuesday. The firm has a market cap of $584.98, a P/E ratio of 13.63 and a beta of 1.31. Fidelity Southern has a one year low of $20.08 and a one year high of $24.95. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.31.

Fidelity Southern (NASDAQ:LION) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Fidelity Southern had a net margin of 13.78% and a return on equity of 11.30%. The business had revenue of $67.03 million for the quarter, compared to analyst estimates of $71.20 million. research analysts anticipate that Fidelity Southern will post 1.34 earnings per share for the current year.

In related news, Chairman James B. Miller, Jr. sold 17,347 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $21.91, for a total transaction of $380,072.77. Following the completion of the sale, the chairman now directly owns 2,876,372 shares of the company’s stock, valued at $63,021,310.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Buchanan sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $20.75, for a total transaction of $83,000.00. Following the sale, the insider now directly owns 254,693 shares of the company’s stock, valued at $5,284,879.75. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 10,535 shares of company stock valued at $19,583 and have sold 86,047 shares valued at $1,273,590. 18.77% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in LION. Dimensional Fund Advisors LP lifted its position in shares of Fidelity Southern by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,497,759 shares of the financial services provider’s stock valued at $35,407,000 after acquiring an additional 80,070 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fidelity Southern by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,167,050 shares of the financial services provider’s stock valued at $26,679,000 after acquiring an additional 49,026 shares in the last quarter. State Street Corp lifted its position in shares of Fidelity Southern by 4.5% in the 2nd quarter. State Street Corp now owns 460,743 shares of the financial services provider’s stock valued at $10,536,000 after acquiring an additional 19,985 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Fidelity Southern by 6.4% in the 2nd quarter. Prudential Financial Inc. now owns 393,289 shares of the financial services provider’s stock valued at $8,991,000 after acquiring an additional 23,640 shares in the last quarter. Finally, Context BH Capital Management LP lifted its position in shares of Fidelity Southern by 17.6% in the 2nd quarter. Context BH Capital Management LP now owns 201,907 shares of the financial services provider’s stock valued at $4,616,000 after acquiring an additional 30,276 shares in the last quarter. 69.40% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This article was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this article on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The original version of this article can be viewed at https://www.chaffeybreeze.com/2018/01/02/fidelity-southern-lion-stock-rating-upgraded-by-zacks-investment-research-2.html.

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.

Receive News & Ratings for Fidelity Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fidelity Southern and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply