Fidelity Southern Corporation (NASDAQ:LION) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, October 24th.

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 research firms have also issued reports on LION. ValuEngine lowered Fidelity Southern Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. BidaskClub lowered Fidelity Southern Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $25.00 price objective on shares of Fidelity Southern Corporation in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.50.

Fidelity Southern Corporation (LION) traded up $0.01 during mid-day trading on Tuesday, reaching $20.61. The company’s stock had a trading volume of 98,100 shares, compared to its average volume of 88,094. The company has a quick ratio of 0.93, a current ratio of 1.02 and a debt-to-equity ratio of 0.31. Fidelity Southern Corporation has a 52 week low of $20.08 and a 52 week high of $24.95. The stock has a market cap of $553.04, a P/E ratio of 12.88 and a beta of 1.34.

Fidelity Southern Corporation (NASDAQ:LION) last issued 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). The firm had revenue of $67.03 million during the quarter, compared to analyst estimates of $71.20 million. Fidelity Southern Corporation had a return on equity of 11.30% and a net margin of 13.78%. equities research analysts anticipate that Fidelity Southern Corporation will post 1.37 EPS for the current fiscal year.

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In other news, Director Jason Walsh sold 113,000 shares of Fidelity Southern Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $0.52, for a total transaction of $58,760.00. Also, insider David Buchanan sold 4,000 shares of Fidelity Southern Corporation stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.75, for a total value of $83,000.00. Following the transaction, the insider now owns 254,693 shares in the company, valued at approximately $5,284,879.75. The disclosure for this sale can be found here. In the last three months, insiders bought 37,538 shares of company stock worth $33,526 and sold 151,700 shares worth $288,635. 18.77% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of LION. Wellington Management Group LLP grew its stake in Fidelity Southern Corporation by 76.3% in the first quarter. Wellington Management Group LLP now owns 1,013,308 shares of the financial services provider’s stock valued at $22,677,000 after purchasing an additional 438,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Fidelity Southern Corporation by 14.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,298,246 shares of the financial services provider’s stock valued at $29,055,000 after buying an additional 160,607 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Fidelity Southern Corporation by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 1,118,024 shares of the financial services provider’s stock valued at $25,021,000 after purchasing an additional 128,613 shares during the period. Martingale Asset Management L P acquired a new position in shares of Fidelity Southern Corporation in the 2nd quarter valued at $2,427,000. Finally, Ameriprise Financial Inc. raised its stake in Fidelity Southern Corporation by 55.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 183,764 shares of the financial services provider’s stock worth $4,201,000 after buying an additional 65,544 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

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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