Fidelity Southern Co. Expected to Earn FY2018 Earnings of $1.81 Per Share (LION)

Fidelity Southern Co. (NASDAQ:LION) – Equities research analysts at FIG Partners increased their FY2018 earnings estimates for Fidelity Southern in a report issued on Wednesday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will earn $1.81 per share for the year, up from their prior estimate of $1.60.

Fidelity Southern (NASDAQ:LION) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.06). The company had revenue of $67.03 million for the quarter, compared to analyst estimates of $71.20 million. Fidelity Southern had a net margin of 13.78% and a return on equity of 11.30%.

Separately, Zacks Investment Research raised Fidelity Southern from a “sell” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $24.50.

Shares of Fidelity Southern (NASDAQ:LION) traded down $0.19 during trading hours on Monday, reaching $21.80. The company had a trading volume of 60,400 shares, compared to its average volume of 99,911. Fidelity Southern has a 1 year low of $20.08 and a 1 year high of $24.95. The company has a market cap of $584.98, a P/E ratio of 13.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 1.02.

In other news, insider James B. Miller, Jr. sold 35,700 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $22.11, for a total value of $789,327.00. Following the sale, the insider now directly owns 2,876,372 shares in the company, valued at $63,596,584.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Buchanan sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $20.75, for a total value of $83,000.00. Following the completion of the sale, the insider now owns 254,693 shares in the company, valued at $5,284,879.75. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,535 shares of company stock worth $19,583 and sold 86,047 shares worth $1,273,590. 18.77% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Fidelity Southern by 332.4% in the third quarter. Meeder Asset Management Inc. now owns 5,072 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 3,899 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Fidelity Southern by 60.7% during the second quarter. BNP Paribas Arbitrage SA now owns 6,440 shares of the financial services provider’s stock worth $147,000 after buying an additional 2,432 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Fidelity Southern during the second quarter worth approximately $239,000. Laurion Capital Management LP acquired a new position in Fidelity Southern during the second quarter worth approximately $243,000. Finally, Arizona State Retirement System increased its position in Fidelity Southern by 0.9% during the second quarter. Arizona State Retirement System now owns 11,100 shares of the financial services provider’s stock worth $254,000 after buying an additional 100 shares during the last quarter. Institutional investors own 69.40% of the company’s stock.

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About Fidelity Southern

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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