Fidelity Southern Co. (NASDAQ:LION) released its quarterly earnings results on Thursday. The financial services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. Fidelity Southern had a return on equity of 14.40% and a net margin of 13.34%. The firm had revenue of $75 million for the quarter, compared to analysts’ expectations of $63.39 million. The business’s revenue was up 26.7% on a year-over-year basis.
Shares of Fidelity Southern (NASDAQ:LION) opened at 21.30 on Friday. Fidelity Southern has a 12-month low of $14.45 and a 12-month high of $24.95. The stock has a market cap of $561.57 million, a PE ratio of 12.46 and a beta of 1.05. The firm has a 50 day moving average price of $21.88 and a 200 day moving average price of $22.69.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Tuesday, May 2nd were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, April 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.28%. Fidelity Southern’s payout ratio is currently 32.21%.
In other news, insider David Buchanan sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $22.79, for a total value of $91,160.00. Following the sale, the insider now directly owns 218,693 shares in the company, valued at $4,984,013.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders bought 526 shares of company stock worth $11,991. Company insiders own 19.93% of the company’s stock.
Several large investors have recently modified their holdings of LION. Geode Capital Management LLC increased its stake in shares of Fidelity Southern by 6.3% in the first quarter. Geode Capital Management LLC now owns 254,949 shares of the financial services provider’s stock valued at $5,705,000 after buying an additional 15,160 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Fidelity Southern by 13.0% in the first quarter. Vanguard Group Inc. now owns 1,118,024 shares of the financial services provider’s stock valued at $25,021,000 after buying an additional 128,613 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Fidelity Southern by 3.0% in the first quarter. Teachers Advisors LLC now owns 35,372 shares of the financial services provider’s stock valued at $792,000 after buying an additional 1,039 shares during the last quarter. Hedge funds and other institutional investors own 63.11% of the company’s stock.
Several research firms have weighed in on LION. FBR & Co reaffirmed a “hold” rating and issued a $24.50 price target on shares of Fidelity Southern in a report on Monday, January 23rd. Stephens reaffirmed a “hold” rating on shares of Fidelity Southern in a report on Friday, April 21st. Finally, Zacks Investment Research cut Fidelity Southern from a “hold” rating to a “sell” rating in a report on Saturday, April 22nd.
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Fidelity Southern Company Profile
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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