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.
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.
TRADEMARK VIOLATION NOTICE: This report was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://stocknewstimes.com/2018/01/11/zacks-investment-research-upgrades-fidelity-southern-lion-to-hold-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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.