Fidelity Southern (LION) Earns Buy Rating from Stephens

Stephens reiterated their buy rating on shares of Fidelity Southern (NASDAQ:LION) in a research report sent to investors on Thursday morning. They currently have a $31.00 price target on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. ValuEngine raised Fidelity Southern from a hold rating to a buy rating in a research note on Thursday, June 21st. BidaskClub raised Fidelity Southern from a sell rating to a hold rating in a research note on Thursday, September 6th. Sandler O’Neill set a $26.00 price objective on Fidelity Southern and gave the company a hold rating in a research note on Monday, July 23rd. Finally, Zacks Investment Research cut Fidelity Southern from a hold rating to a strong sell rating in a research note on Tuesday, July 24th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $29.00.

NASDAQ:LION traded up $0.39 on Thursday, reaching $23.56. The company’s stock had a trading volume of 2,529 shares, compared to its average volume of 103,724. Fidelity Southern has a 12-month low of $20.28 and a 12-month high of $27.05. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $633.82 million, a P/E ratio of 18.12 and a beta of 0.91.

Fidelity Southern (NASDAQ:LION) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. Fidelity Southern had a return on equity of 9.04% and a net margin of 13.68%. The business had revenue of $72.41 million during the quarter, compared to analysts’ expectations of $71.10 million. Sell-side analysts anticipate that Fidelity Southern will post 1.42 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its stake in shares of Fidelity Southern by 3.1% in the second quarter. Northern Trust Corp now owns 266,667 shares of the financial services provider’s stock valued at $6,776,000 after buying an additional 8,033 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Fidelity Southern by 17.0% in the second quarter. California Public Employees Retirement System now owns 66,052 shares of the financial services provider’s stock valued at $1,678,000 after buying an additional 9,612 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of Fidelity Southern in the second quarter valued at $593,000. Voya Investment Management LLC acquired a new stake in shares of Fidelity Southern in the second quarter valued at $216,000. Finally, OppenheimerFunds Inc. grew its stake in Fidelity Southern by 16.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 27,191 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 3,884 shares in the last quarter. 69.16% of the stock is owned by institutional investors and hedge funds.

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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