Fidelity Southern Corp. (NASDAQ:LION) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Other analysts also recently issued research reports about the company. FBR & Co restated a “hold” rating and issued a $18.00 price target on shares of Fidelity Southern Corp. in a research note on Friday, July 22nd. Keefe, Bruyette & Woods upgraded Fidelity Southern Corp. from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, July 22nd.
Shares of Fidelity Southern Corp. (NASDAQ:LION) opened at 18.41 on Thursday. The company has a market capitalization of $479.30 million, a price-to-earnings ratio of 16.91 and a beta of 0.91. Fidelity Southern Corp. has a 52 week low of $14.01 and a 52 week high of $23.05. The firm has a 50 day moving average price of $18.14 and a 200 day moving average price of $16.82.
Fidelity Southern Corp. (NASDAQ:LION) last announced its earnings results on Thursday, July 21st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.19. Fidelity Southern Corp. had a return on equity of 12.41% and a net margin of 10.97%. Equities analysts forecast that Fidelity Southern Corp. will post $1.63 EPS for the current year.
In other Fidelity Southern Corp. news, Director Rankin M. Smith, Jr. sold 52,078 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $17.46, for a total transaction of $909,281.88. Following the sale, the director now directly owns 238,330 shares in the company, valued at approximately $4,161,241.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rankin M. Smith, Jr. sold 27,571 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $17.34, for a total value of $478,081.14. Following the sale, the director now owns 266,330 shares in the company, valued at $4,618,162.20. The disclosure for this sale can be found here. Company insiders own 19.93% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. American International Group Inc. increased its position in Fidelity Southern Corp. by 22.1% in the second quarter. American International Group Inc. now owns 11,941 shares of the financial services provider’s stock worth $187,000 after buying an additional 2,165 shares during the period. Panagora Asset Management Inc. increased its position in Fidelity Southern Corp. by 31.5% in the second quarter. Panagora Asset Management Inc. now owns 13,869 shares of the financial services provider’s stock worth $217,000 after buying an additional 3,324 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Fidelity Southern Corp. by 36.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 16,033 shares of the financial services provider’s stock worth $251,000 after buying an additional 4,324 shares during the period. InterOcean Capital LLC increased its position in Fidelity Southern Corp. by 10.5% in the second quarter. InterOcean Capital LLC now owns 17,200 shares of the financial services provider’s stock worth $270,000 after buying an additional 1,634 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Fidelity Southern Corp. during the second quarter worth about $297,000. Institutional investors and hedge funds own 59.46% of the company’s stock.
Fidelity Southern Corp. Company Profile
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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