BidaskClub Downgrades Fidelity Southern (NASDAQ:LION) to Sell

Fidelity Southern (NASDAQ:LION) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, March 22nd, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Fidelity Southern from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Thursday, January 17th. Sandler O’Neill raised shares of Fidelity Southern from a “hold” rating to a “buy” rating in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Fidelity Southern presently has a consensus rating of “Buy” and an average price target of $29.33.

Shares of Fidelity Southern stock traded down $0.60 during trading on Friday, hitting $28.21. 38,159 shares of the stock were exchanged, compared to its average volume of 151,780. The firm has a market capitalization of $786.32 million, a PE ratio of 17.52 and a beta of 0.66. Fidelity Southern has a 1-year low of $21.18 and a 1-year high of $33.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.00 and a quick ratio of 0.94.

Fidelity Southern (NASDAQ:LION) last released its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $70.64 million for the quarter, compared to analyst estimates of $67.90 million. Fidelity Southern had a net margin of 13.68% and a return on equity of 10.25%. As a group, analysts expect that Fidelity Southern will post 1.7 EPS for the current year.

In related news, Director Rankin M. Smith, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were acquired at an average cost of $30.50 per share, with a total value of $305,000.00. Following the completion of the purchase, the director now directly owns 273,540 shares in the company, valued at $8,342,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 20.18% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan bought a new position in shares of Fidelity Southern in the fourth quarter valued at $163,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Fidelity Southern by 473.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,368 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 6,908 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Fidelity Southern in the fourth quarter valued at about $219,000. Millennium Management LLC purchased a new stake in shares of Fidelity Southern in the fourth quarter valued at about $255,000. Finally, Stifel Financial Corp purchased a new stake in shares of Fidelity Southern in the fourth quarter valued at about $265,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Fidelity Southern Company Profile

Fidelity Southern Corporation operates as the bank holding company for Fidelity Bank that provides financial products and services primarily to individuals and small to medium-sized businesses in the United States. The company accepts noninterest-bearing and interest-bearing demand accounts, including money market accounts and savings deposits; and time deposits.

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