Fidelity Southern Corporation (LION) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Fidelity Southern Corporation (NASDAQ:LION) have received an average recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $24.50.
A number of research firms recently weighed in on LION. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $25.00 price target on shares of Fidelity Southern Corporation in a report on Thursday, July 27th. ValuEngine lowered Fidelity Southern Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Stephens reiterated a “hold” rating and set a $24.00 price objective on shares of Fidelity Southern Corporation in a research note on Friday, June 23rd. BidaskClub upgraded Fidelity Southern Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Fidelity Southern Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th.
Fidelity Southern Corporation (NASDAQ:LION) opened at 22.06 on Tuesday. The firm has a 50-day moving average price of $21.57 and a 200-day moving average price of $22.07. Fidelity Southern Corporation has a 12-month low of $17.36 and a 12-month high of $24.95. The company has a market cap of $589.11 million, a P/E ratio of 12.40 and a beta of 1.32.
Fidelity Southern Corporation (NASDAQ:LION) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.06). The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $71.32 million. Fidelity Southern Corporation had a return on equity of 12.87% and a net margin of 14.95%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts forecast that Fidelity Southern Corporation will post $1.45 earnings per share for the current fiscal year.
In other Fidelity Southern Corporation news, insider David Buchanan sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $22.45, for a total transaction of $112,250.00. Following the transaction, the insider now owns 208,693 shares of the company’s stock, valued at $4,685,157.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 548 shares of company stock worth $12,016 in the last three months. 18.77% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Fidelity Southern Corporation by 76.3% in the first quarter. Wellington Management Group LLP now owns 1,013,308 shares of the financial services provider’s stock valued at $22,677,000 after purchasing an additional 438,518 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fidelity Southern Corporation by 14.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,298,246 shares of the financial services provider’s stock valued at $29,055,000 after acquiring an additional 160,607 shares during the period. Vanguard Group Inc. lifted its position in shares of Fidelity Southern Corporation by 13.0% during the 1st quarter. Vanguard Group Inc. now owns 1,118,024 shares of the financial services provider’s stock valued at $25,021,000 after acquiring an additional 128,613 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Fidelity Southern Corporation during the 2nd quarter valued at approximately $2,427,000. Finally, RMB Capital Management LLC lifted its position in shares of Fidelity Southern Corporation by 21.4% during the 1st quarter. RMB Capital Management LLC now owns 394,680 shares of the financial services provider’s stock valued at $8,833,000 after acquiring an additional 69,618 shares during the period. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
About Fidelity Southern Corporation
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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