Noteworthy Price Action: Fidelity Southern Corporation’s Stock Is Buy After Reaching 52-Week High

Noteworthy Price Action: Fidelity Southern Corporation's Stock Is Buy After Reaching 52 Week High

The stock of Fidelity Southern Corporation (NASDAQ:LION) hit a new 52-week high and has $23.41 target or 3.00% above today’s $22.73 share price. The 6 months bullish chart indicates low risk for the $573.67 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $23.41 price target is reached, the company will be worth $17.21M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 53,426 shares traded hands. Fidelity Southern Corporation (NASDAQ:LION) has risen 32.53% since April 26, 2016 and is uptrending. It has outperformed by 27.27% the S&P500.

Analysts await Fidelity Southern Corporation (NASDAQ:LION) to report earnings on January, 19. They expect $0.38 EPS, up 35.71% or $0.10 from last year’s $0.28 per share. LION’s profit will be $9.59M for 14.95 P/E if the $0.38 EPS becomes a reality. After $0.48 actual EPS reported by Fidelity Southern Corporation for the previous quarter, Wall Street now forecasts -20.83% negative EPS growth.

Fidelity Southern Corporation (NASDAQ:LION) Ratings Coverage

Out of 4 analysts covering Fidelity Southern Corp (NASDAQ:LION), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Fidelity Southern Corp has been the topic of 4 analyst reports since July 17, 2015 according to StockzIntelligence Inc. The rating was initiated by FBR Capital with “Market Perform” on Wednesday, May 18. The firm earned “Outperform” rating on Friday, July 22 by Keefe Bruyette & Woods. The company was upgraded on Friday, July 22 by Wood.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.56 in 2016 Q2. Its up 0.26, from 1.3 in 2016Q1. The ratio improved, as 9 funds sold all Fidelity Southern Corporation shares owned while 28 reduced positions. 12 funds bought stakes while 36 increased positions. They now own 15.28 million shares or 0.03% more from 15.27 million shares in 2016Q1.
Basswood Ltd Liability last reported 0.17% of its portfolio in the stock. Wellington Mngmt Gp Llp last reported 0% of its portfolio in the stock. Ladenburg Thalmann Fincl holds 400 shares or 0% of its portfolio. Blackrock Institutional Trust Na last reported 0% of its portfolio in the stock. Analytic Invsts Ltd Liability Company reported 45,482 shares or 0.01% of all its holdings. Blackrock Advsrs Llc accumulated 0% or 186,731 shares. Moreover, Manufacturers Life Insur The has 0% invested in Fidelity Southern Corporation (NASDAQ:LION) for 15,032 shares. Ubs Asset Management Americas Inc holds 0% or 17,900 shares in its portfolio. Panagora Asset Mgmt holds 0% or 13,869 shares in its portfolio. Moreover, California State Teachers Retirement has 0% invested in Fidelity Southern Corporation (NASDAQ:LION) for 43,494 shares. D E Shaw has invested 0% of its portfolio in Fidelity Southern Corporation (NASDAQ:LION). Numeric Investors Limited Liability Corporation has 0.07% invested in the company for 517,566 shares. Renaissance Technology Lc holds 0.01% of its portfolio in Fidelity Southern Corporation (NASDAQ:LION) for 381,369 shares. The Illinois-based Lsv Asset Mgmt has invested 0.03% in Fidelity Southern Corporation (NASDAQ:LION). Ejf Lc last reported 0.74% of its portfolio in the stock.

Insider Transactions: Since June 10, 2016, the stock had 6 insider buys, and 5 insider sales for $1.88 million net activity. SHEPHERD W CLYDE III bought $3,995 worth of Fidelity Southern Corporation (NASDAQ:LION) on Friday, September 9. Brolly Stephen H sold $57,625 worth of stock. 12,930 shares with value of $239,584 were sold by Lankford William C Jr on Tuesday, October 25. SMITH RANKIN M JR sold 27,571 shares worth $478,190.

More notable recent Fidelity Southern Corporation (NASDAQ:LION) news were published by: Prnewswire.com which released: “Fidelity Southern Corporation Completes Merger With American Enterprise …” on March 01, 2016, also Seekingalpha.com with their article: “Fidelity Southern Sees Growth In Atlanta” published on November 15, 2016, Nasdaq.com published: “Fidelity Southern Corporation (LION) Ex-Dividend Date Scheduled for October 31 …” on October 28, 2016. More interesting news about Fidelity Southern Corporation (NASDAQ:LION) were released by: Prnewswire.com and their article: “Fidelity Southern Corporation Completes Acquisition of Eight Florida Branches” published on September 14, 2015 as well as Prnewswire.com‘s news article titled: “Fidelity Southern Corporation Announces Acquisition Of Eight Florida Branches” with publication date: May 20, 2015.

LION Company Profile

Fidelity Southern Corporation (FSC), incorporated on August 3, 1979, is a bank holding company. The Firm operates in the community banking segment. The Firm conducts its activities through its subsidiary bank, Fidelity Bank, which is a state chartered bank (the Bank). The Bank provides various financial services and products for retail clients and small to medium-sized businesses, primarily in Atlanta and Jacksonville, Orlando and Sarasota-Bradenton, Florida markets. It also conducts indirect automobile lending, residential mortgage lending and Small Business Administration (SBA) lending activities in over 10 states. The Firm offers services and products through a network of offices located in Southern states consisting of over 50 owned and over 10 leased retail bank branches, and over 30 loan production offices.

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