Cutler Capital Management LLC cut its position in Fidelity Southern Co. (NASDAQ:LION) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,169 shares of the financial services provider’s stock after selling 7,975 shares during the quarter. Fidelity Southern accounts for 1.7% of Cutler Capital Management LLC’s portfolio, making the stock its 25th largest position. Cutler Capital Management LLC owned 0.69% of Fidelity Southern worth $4,295,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Fidelity Southern by 55.8% in the fourth quarter. Meeder Asset Management Inc. now owns 7,901 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 2,829 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Fidelity Southern in the fourth quarter valued at $203,000. MetLife Investment Advisors LLC acquired a new stake in Fidelity Southern in the fourth quarter valued at $236,000. Two Sigma Investments LP acquired a new stake in Fidelity Southern in the fourth quarter valued at $283,000. Finally, Montag A & Associates Inc. acquired a new stake in Fidelity Southern in the first quarter valued at $300,000. Institutional investors and hedge funds own 67.87% of the company’s stock.
A number of analysts have weighed in on the stock. ValuEngine cut shares of Fidelity Southern from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. BidaskClub cut shares of Fidelity Southern from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. Zacks Investment Research raised shares of Fidelity Southern from a “sell” rating to a “hold” rating in a report on Wednesday, March 28th. Finally, Sandler O’Neill set a $25.00 price objective on shares of Fidelity Southern and gave the stock a “hold” rating in a report on Monday, January 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $25.00.
LION stock opened at $24.05 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 1.02. Fidelity Southern Co. has a fifty-two week low of $20.28 and a fifty-two week high of $24.96. The stock has a market capitalization of $650.24 million, a P/E ratio of 17.95 and a beta of 1.22.
The business also recently announced a quarterly dividend, which was paid on Monday, May 14th. Investors of record on Wednesday, May 2nd were given a $0.12 dividend. The ex-dividend date was Tuesday, May 1st. This represents a $0.48 dividend on an annualized basis and a yield of 2.00%. Fidelity Southern’s dividend payout ratio is presently 36.64%.
In related news, Director David R. Bockel sold 16,000 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $22.88, for a total value of $366,080.00. Following the completion of the transaction, the director now owns 36,440 shares in the company, valued at approximately $833,747.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 1,022 shares of company stock valued at $23,623 in the last quarter. 20.18% of the stock is currently owned by insiders.
About Fidelity Southern
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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