Vanguard Group Inc. grew its holdings in Fidelity Southern Co. (NASDAQ:LION) by 2.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,389,834 shares of the financial services provider’s stock after acquiring an additional 31,842 shares during the quarter. Vanguard Group Inc. owned about 5.10% of Fidelity Southern worth $34,440,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Voya Investment Management LLC purchased a new position in Fidelity Southern during the 2nd quarter worth approximately $216,000. MetLife Investment Advisors LLC lifted its position in Fidelity Southern by 58.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 17,185 shares of the financial services provider’s stock worth $426,000 after acquiring an additional 6,358 shares during the period. Salem Investment Counselors Inc. lifted its position in Fidelity Southern by 17.1% during the 3rd quarter. Salem Investment Counselors Inc. now owns 27,345 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 4,000 shares during the period. Legal & General Group Plc lifted its position in Fidelity Southern by 9.4% during the 3rd quarter. Legal & General Group Plc now owns 47,503 shares of the financial services provider’s stock worth $1,177,000 after acquiring an additional 4,083 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Fidelity Southern during the 2nd quarter worth approximately $1,183,000. Institutional investors and hedge funds own 68.66% of the company’s stock.
Shares of LION traded up $0.21 during mid-day trading on Tuesday, hitting $31.16. The company’s stock had a trading volume of 101 shares, compared to its average volume of 176,663. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.00 and a quick ratio of 0.94. The stock has a market capitalization of $834.47 million, a P/E ratio of 19.47 and a beta of 0.66. Fidelity Southern Co. has a 1-year low of $21.18 and a 1-year high of $31.19.
Fidelity Southern (NASDAQ:LION) last posted its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $70.64 million during the quarter, compared to analysts’ expectations of $67.90 million. Fidelity Southern had a return on equity of 10.25% and a net margin of 13.68%. Research analysts anticipate that Fidelity Southern Co. will post 1.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Monday, February 4th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 1st. This represents a $0.48 annualized dividend and a yield of 1.54%. Fidelity Southern’s dividend payout ratio is presently 29.81%.
A number of research firms have weighed in on LION. Zacks Investment Research cut Fidelity Southern from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. BidaskClub raised Fidelity Southern from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Sandler O’Neill raised Fidelity Southern from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. ValuEngine raised Fidelity Southern from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. Finally, Stephens reissued a “buy” rating and issued a $31.00 price target on shares of Fidelity Southern in a report on Thursday, October 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $29.33.
In other news, Director Rankin M. Smith, Jr. acquired 15,000 shares of Fidelity Southern stock in a transaction that occurred on Monday, December 24th. The stock was purchased at an average cost of $25.25 per share, with a total value of $378,750.00. Following the completion of the acquisition, the director now owns 259,009 shares in the company, valued at approximately $6,539,977.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.18% of the company’s stock.
Fidelity Southern Company Profile
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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