Zacks Investment Research Downgrades Fidelity Southern (LION) to Hold

Fidelity Southern (NASDAQ:LION) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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 equities research analysts have also commented on LION. ValuEngine upgraded Fidelity Southern from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 7th. BidaskClub lowered Fidelity Southern from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.67.

Fidelity Southern opened at $26.11 on Wednesday, according to MarketBeat Ratings. Fidelity Southern has a 12 month low of $20.28 and a 12 month high of $27.05. The stock has a market capitalization of $698.63 million, a price-to-earnings ratio of 19.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 1.02.

Fidelity Southern (NASDAQ:LION) last released its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Fidelity Southern had a return on equity of 9.15% and a net margin of 13.84%. The firm had revenue of $71.90 million for the quarter, compared to analyst estimates of $66.40 million. equities research analysts expect that Fidelity Southern will post 1.67 EPS for the current year.

In other Fidelity Southern news, Director David R. Bockel sold 16,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $22.88, for a total value of $366,080.00. Following the sale, the director now owns 36,440 shares in the company, valued at approximately $833,747.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 834 shares of company stock worth $19,626 in the last quarter. Corporate insiders own 20.18% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LION. Barclays PLC boosted its position in shares of Fidelity Southern by 115.8% during the 1st quarter. Barclays PLC now owns 8,083 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 4,337 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Fidelity Southern during the 4th quarter valued at about $203,000. MetLife Investment Advisors LLC bought a new stake in shares of Fidelity Southern during the 4th quarter valued at about $236,000. Two Sigma Investments LP bought a new stake in shares of Fidelity Southern during the 4th quarter valued at about $283,000. Finally, Montag A & Associates Inc. bought a new stake in shares of Fidelity Southern during the 1st quarter valued at about $300,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

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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