Fidelity Southern (LION) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Fidelity Southern (NASDAQ:LION) from a sell rating to a hold rating in a research note released on Tuesday, January 2nd.

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. “

Fidelity Southern (NASDAQ LION) traded down $0.14 during mid-day trading on Tuesday, hitting $22.39. 45,300 shares of the stock traded hands, compared to its average volume of 54,900. Fidelity Southern has a twelve month low of $20.08 and a twelve month high of $24.95. The firm has a market capitalization of $604.57, a price-to-earnings ratio of 13.99 and a beta of 1.31. 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 announced its earnings results on Thursday, October 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). Fidelity Southern had a return on equity of 11.30% and a net margin of 13.78%. The firm had revenue of $67.03 million for the quarter, compared to analyst estimates of $71.20 million. sell-side analysts expect that Fidelity Southern will post 1.34 EPS for the current year.

In other news, insider David Buchanan sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.75, for a total value of $83,000.00. Following the transaction, the insider now owns 254,693 shares of the company’s stock, valued at approximately $5,284,879.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James B. Miller, Jr. sold 35,700 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.11, for a total transaction of $789,327.00. Following the completion of the transaction, the insider now directly owns 2,876,372 shares in the company, valued at approximately $63,596,584.92. The disclosure for this sale can be found here. In the last quarter, insiders acquired 10,546 shares of company stock worth $19,596 and sold 86,047 shares worth $1,273,590. 18.77% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in LION. Meeder Asset Management Inc. grew its holdings in Fidelity Southern by 332.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,072 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 3,899 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Fidelity Southern by 60.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,440 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 2,432 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Fidelity Southern during the 2nd quarter worth $239,000. Laurion Capital Management LP acquired a new position in Fidelity Southern during the 2nd quarter worth $243,000. Finally, Arizona State Retirement System boosted its holdings in shares of Fidelity Southern by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $254,000 after buying an additional 100 shares during the period. 69.40% 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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