Fidelity Southern Co. (NASDAQ:LION) Sees Significant Decline in Short Interest

Fidelity Southern Co. (NASDAQ:LION) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 460,464 shares, a drop of 26.4% from the February 15th total of 625,226 shares. Based on an average daily trading volume, of 97,061 shares, the short-interest ratio is currently 4.7 days. Currently, 2.5% of the company’s stock are sold short.

In other Fidelity Southern news, Director William C. Lankford, Jr. sold 2,365 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $24.02, for a total value of $56,807.30. Following the completion of the sale, the director now owns 10,182 shares in the company, valued at approximately $244,571.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 18.77% of the company’s stock.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in LION. State Street Corp boosted its holdings in Fidelity Southern by 4.5% in the 2nd quarter. State Street Corp now owns 460,743 shares of the financial services provider’s stock worth $10,536,000 after buying an additional 19,985 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Fidelity Southern by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,173 shares of the financial services provider’s stock worth $416,000 after buying an additional 1,222 shares during the period. Principal Financial Group Inc. boosted its holdings in Fidelity Southern by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 166,230 shares of the financial services provider’s stock worth $3,930,000 after buying an additional 3,858 shares during the period. Bessemer Group Inc. boosted its holdings in Fidelity Southern by 59.3% in the 3rd quarter. Bessemer Group Inc. now owns 33,300 shares of the financial services provider’s stock worth $787,000 after buying an additional 12,400 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in Fidelity Southern by 84.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 11,899 shares of the financial services provider’s stock worth $281,000 after buying an additional 5,459 shares during the period. 69.21% of the stock is owned by institutional investors.

LION has been the subject of a number of research reports. ValuEngine raised shares of Fidelity Southern from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Zacks Investment Research raised shares of Fidelity Southern from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. BidaskClub downgraded shares of Fidelity Southern from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. Finally, Sandler O’Neill set a $25.00 target price on shares of Fidelity Southern and gave the company a “hold” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $25.00.

Shares of Fidelity Southern stock traded down $0.54 on Friday, reaching $22.66. 70,227 shares of the company traded hands, compared to its average volume of 130,887. Fidelity Southern has a 52 week low of $20.08 and a 52 week high of $24.96. The company has a market capitalization of $627.16, a P/E ratio of 17.30 and a beta of 1.22. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.30.

Fidelity Southern (NASDAQ:LION) last released its earnings results on Friday, January 19th. The financial services provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The company had revenue of $64.76 million for the quarter, compared to the consensus estimate of $67.00 million. Fidelity Southern had a net margin of 13.59% and a return on equity of 9.06%. equities analysts expect that Fidelity Southern will post 1.62 EPS for the current fiscal year.

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Fidelity Southern Company Profile

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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