Zacks Investment Research upgraded shares of Fidelity Southern Corporation (NASDAQ:LION) from a hold rating to a buy rating in a report released on Tuesday. They currently have $27.00 price target on the financial services provider’s stock.
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. “
Separately, FBR & Co reiterated a hold rating and issued a $24.50 price objective on shares of Fidelity Southern Corporation in a report on Monday.
Shares of Fidelity Southern Corporation (NASDAQ:LION) traded up 0.08% on Tuesday, hitting $24.79. The stock had a trading volume of 38,673 shares. The firm has a 50 day moving average of $23.58 and a 200-day moving average of $19.86. Fidelity Southern Corporation has a 1-year low of $14.01 and a 1-year high of $24.95. The firm has a market capitalization of $650.22 million, a price-to-earnings ratio of 16.53 and a beta of 1.09.
Fidelity Southern Corporation (NASDAQ:LION) last posted its earnings results on Thursday, January 19th. The financial services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.16. Fidelity Southern Corporation had a return on equity of 14.40% and a net margin of 13.34%. Equities analysts predict that Fidelity Southern Corporation will post $1.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, February 3rd will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, February 1st. Fidelity Southern Corporation’s payout ratio is currently 32.21%.
In other news, insider Stephen H. Brolly sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $23.05, for a total value of $57,625.00. Following the completion of the transaction, the insider now directly owns 36,496 shares in the company, valued at approximately $841,232.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Lankford, Jr. sold 12,000 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $18.47, for a total value of $221,640.00. Following the completion of the transaction, the director now owns 5,228 shares of the company’s stock, valued at $96,561.16. The disclosure for this sale can be found here. Insiders sold a total of 24,500 shares of company stock valued at $504,665 over the last quarter. Company insiders own 19.93% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LION. Banc Funds Co. LLC raised its stake in Fidelity Southern Corporation by 0.3% in the second quarter. Banc Funds Co. LLC now owns 1,460,697 shares of the financial services provider’s stock worth $22,889,000 after buying an additional 4,168 shares during the period. RMB Capital Management LLC raised its stake in Fidelity Southern Corporation 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 period. LSV Asset Management raised its stake in Fidelity Southern Corporation by 18.5% in the third quarter. LSV Asset Management now owns 1,148,644 shares of the financial services provider’s stock worth $21,123,000 after buying an additional 179,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Fidelity Southern Corporation by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,004,983 shares of the financial services provider’s stock worth $15,748,000 after buying an additional 5,689 shares during the period. Finally, EJF Capital LLC raised its stake in Fidelity Southern Corporation 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 period. 62.55% of the stock is owned by institutional investors.
About Fidelity Southern Corporation
Fidelity Southern Corporation is a bank holding company. The Company operates in the community banking segment. It conducts its operations through its subsidiary bank, Fidelity Bank (the Bank). The Bank provides various financial products and services for retail customers and small to medium-sized businesses, primarily in Atlanta and Jacksonville, Orlando and Sarasota-Bradenton, Florida markets.
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