TIAA CREF Investment Management LLC Trims Holdings in Fidelity Southern Co. (LION)
TIAA CREF Investment Management LLC reduced its stake in Fidelity Southern Co. (NASDAQ:LION) by 18.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,392 shares of the financial services provider’s stock after selling 10,011 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.16% of Fidelity Southern worth $1,075,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. IndexIQ Advisors LLC grew its stake in shares of Fidelity Southern by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 98,537 shares of the financial services provider’s stock worth $2,442,000 after buying an additional 3,722 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Fidelity Southern by 17.1% in the 3rd quarter. Salem Investment Counselors Inc. now owns 27,345 shares of the financial services provider’s stock worth $678,000 after buying an additional 4,000 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of Fidelity Southern by 58.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 17,185 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 6,358 shares during the period. Northern Trust Corp boosted its position in Fidelity Southern by 3.1% in the 2nd quarter. Northern Trust Corp now owns 266,667 shares of the financial services provider’s stock valued at $6,776,000 after buying an additional 8,033 shares during the period. Finally, Voya Investment Management LLC purchased a new stake in Fidelity Southern in the 2nd quarter valued at about $216,000. Institutional investors own 68.66% of the company’s stock.
Shares of NASDAQ:LION traded down $0.02 during trading hours on Monday, hitting $30.58. The company’s stock had a trading volume of 100 shares, compared to its average volume of 165,951. Fidelity Southern Co. has a 52 week low of $21.18 and a 52 week high of $31.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.94 and a current ratio of 1.00. The firm has a market cap of $834.47 million, a P/E ratio of 18.92 and a beta of 0.66.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Monday, February 4th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 1st. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. Fidelity Southern’s dividend payout ratio is currently 29.81%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Fidelity Southern from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. BidaskClub upgraded shares of Fidelity Southern from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Sandler O’Neill upgraded shares of Fidelity Southern from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. Stephens restated a “buy” rating and issued a $31.00 price target on shares of Fidelity Southern in a report on Thursday, October 18th. Finally, ValuEngine upgraded shares of Fidelity Southern from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $29.33.
In other news, Director Rankin M. Smith, Jr. acquired 15,000 shares of Fidelity Southern stock in a transaction that occurred on Monday, December 24th. The stock was purchased at an average price of $25.25 per share, for a total transaction of $378,750.00. Following the purchase, the director now directly owns 259,009 shares in the company, valued at approximately $6,539,977.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.18% of the company’s stock.
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About Fidelity Southern
Fidelity Southern Corporation operates as the holding company for Fidelity Bank that provides financial products and services primarily for individuals, and small and medium-sized businesses in the United States. The company accepts noninterest-bearing demand and interest-bearing demand accounts, including money market accounts and savings deposits; and time deposits.
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