Fidelity Southern Corporation (NASDAQ:LION) – Stock analysts at FIG Partners cut their FY2017 earnings estimates for Fidelity Southern Corporation in a research note issued to investors on Friday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings of $1.36 per share for the year, down from their prior estimate of $1.49. FIG Partners also issued estimates for Fidelity Southern Corporation’s Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.44 EPS and FY2018 earnings at $1.60 EPS.
A number of other research firms have also commented on LION. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $25.00 price target on shares of Fidelity Southern Corporation in a research report on Thursday, July 27th. Zacks Investment Research lowered Fidelity Southern Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub raised Fidelity Southern Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, ValuEngine lowered Fidelity Southern Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.
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Shares of Fidelity Southern Corporation (NASDAQ:LION) opened at 21.55 on Monday. The firm has a 50-day moving average price of $22.65 and a 200-day moving average price of $22.25. Fidelity Southern Corporation has a 52 week low of $17.78 and a 52 week high of $24.95. The firm has a market cap of $575.49 million, a PE ratio of 12.11 and a beta of 1.32.
Fidelity Southern Corporation (NASDAQ:LION) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.06). Fidelity Southern Corporation had a return on equity of 11.30% and a net margin of 13.78%. The business had revenue of $67.03 million for the quarter, compared to analyst estimates of $71.20 million.
Several large investors have recently made changes to their positions in LION. Meeder Asset Management Inc. grew its stake in shares of Fidelity Southern Corporation by 332.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,072 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,899 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Fidelity Southern Corporation in the 2nd quarter worth approximately $239,000. Sterling Capital Management LLC grew its stake in shares of Fidelity Southern Corporation by 7.3% in the 2nd quarter. Sterling Capital Management LLC now owns 43,523 shares of the financial services provider’s stock worth $995,000 after buying an additional 2,952 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Fidelity Southern Corporation 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 last quarter. Finally, State Street Corp grew its stake in shares of Fidelity Southern Corporation 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 last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.
In other news, Director David R. Bockel sold 5,700 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $22.05, for a total value of $125,685.00. Following the completion of the transaction, the director now owns 29,847 shares of the company’s stock, valued at approximately $658,126.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 545 shares of company stock valued at $12,001 in the last three months. Corporate insiders own 18.77% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Wednesday, November 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, October 31st. Fidelity Southern Corporation’s dividend payout ratio is currently 30.00%.
About Fidelity Southern Corporation
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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