Fidelity Southern Co. (LION) Cut to Buy at ValuEngine

ValuEngine lowered shares of Fidelity Southern Co. (NASDAQ:LION) from a strong-buy rating to a buy rating in a report issued on Tuesday, July 11th.

LION has been the topic of a number of other research reports. Stephens restated a hold rating on shares of Fidelity Southern in a research note on Friday, April 21st. Zacks Investment Research cut Fidelity Southern from a hold rating to a sell rating in a research note on Saturday, April 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Fidelity Southern has a consensus rating of Hold and a consensus target price of $25.13.

Fidelity Southern (NASDAQ:LION) opened at 22.01 on Tuesday. Fidelity Southern has a 52-week low of $16.24 and a 52-week high of $24.95. The firm has a market cap of $581.79 million, a price-to-earnings ratio of 12.37 and a beta of 1.31. The stock has a 50 day moving average of $22.57 and a 200-day moving average of $22.57.

Fidelity Southern (NASDAQ:LION) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.06. Fidelity Southern had a return on equity of 9.50% and a net margin of 12.92%. The company had revenue of $74.60 million for the quarter, compared to the consensus estimate of $71.32 million. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Fidelity Southern will post $1.45 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Tuesday, August 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, July 28th. Fidelity Southern’s dividend payout ratio (DPR) is currently 26.97%.

In other news, insider David Buchanan sold 5,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $22.45, for a total transaction of $112,250.00. Following the sale, the insider now directly owns 208,693 shares of the company’s stock, valued at approximately $4,685,157.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider H Palmer Proctor, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $23.09, for a total value of $346,350.00. Following the completion of the sale, the insider now directly owns 79,037 shares in the company, valued at $1,824,964.33. The disclosure for this sale can be found here. Over the last three months, insiders have bought 547 shares of company stock worth $12,001 and have sold 25,000 shares worth $576,950. Corporate insiders own 18.77% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC raised its stake in Fidelity Southern by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,951 shares of the financial services provider’s stock valued at $111,000 after buying an additional 324 shares during the period. First Quadrant L P CA purchased a new position in Fidelity Southern during the second quarter valued at approximately $124,000. BNP Paribas Arbitrage SA increased its position in Fidelity Southern by 60.7% in the second quarter. BNP Paribas Arbitrage SA now owns 6,440 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,432 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Fidelity Southern during the fourth quarter valued at approximately $182,000. Finally, New York State Teachers Retirement System purchased a new position in Fidelity Southern during the fourth quarter valued at approximately $192,000. 69.00% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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