Zacks Investment Research upgraded shares of Fidelity Southern Corp. (NASDAQ:LION) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $20.00 price objective 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. “

A number of other brokerages have also weighed in on LION. FBR & Co restated a hold rating and set 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 target price on the stock in a research report on Friday, July 22nd.

Shares of Fidelity Southern Corp. (NASDAQ:LION) opened at 18.12 on Wednesday. Fidelity Southern Corp. has a 12 month low of $14.01 and a 12 month high of $23.05. The company has a market cap of $471.75 million, a price-to-earnings ratio of 16.64 and a beta of 0.87. The firm has a 50-day moving average of $17.68 and a 200 day moving average of $16.52.

Fidelity Southern Corp. (NASDAQ:LION) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ 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%. On average, analysts expect that Fidelity Southern Corp. will post $1.63 earnings per share for the current year.

In other Fidelity Southern Corp. news, Director Rankin M. Smith, Jr. sold 52,078 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $17.46, for a total value of $909,281.88. Following the sale, the director now owns 238,330 shares in the company, valued at approximately $4,161,241.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rankin M. Smith, Jr. sold 27,571 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $17.34, for a total value of $478,081.14. Following the completion of the sale, the director now owns 266,330 shares in the company, valued at approximately $4,618,162.20. The disclosure for this sale can be found here. 19.93% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in LION. American International Group Inc. increased its position in shares of 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 valued at $187,000 after buying an additional 2,165 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of 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 valued at $217,000 after buying an additional 3,324 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of 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 valued at $251,000 after buying an additional 4,324 shares during the last quarter. InterOcean Capital LLC increased its position in shares of 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 valued at $270,000 after buying an additional 1,634 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Fidelity Southern Corp. during the second quarter valued at $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.

5 Day Chart for NASDAQ:LION

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