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LION

Fidelity Southern

$22.96

-0.35 (-1.50%)

13:03
10/18/18
10/18
13:03
10/18/18
13:03

Fidelity Southern reports Q3 EPS 47c, consensus 37c

Total assets decreased by $80.3M, or 1.6%, during the quarter, to $4.8B at September 30, 2018, primarily due to a decrease of $159.3M in total loans. This decrease was driven by a decrease of $110.5M in indirect auto loans as Fidelity exited all markets, except for Florida and Georgia, at the end of last quarter. Servicing rights also decreased by $8.7M, primarily due to the previously announced $1.2B sale of mortgage servicing rights during the quarter. Total loans, including loans held for sale, decreased during the quarter by $159.3M, or 3.8%, to $4.1B at September 30, 2018. This decrease was driven by a reduction of $110.5M in indirect loans through normal attrition and $18.6M in loan sales. As planned, production of indirect auto loans decreased by $96.9M compared to the previous quarter.

  • 06

    Dec

LION Fidelity Southern
$22.96

-0.35 (-1.50%)

09/07/18
SPHN
09/07/18
UPGRADE
SPHN
Overweight
Fidelity Southern upgraded to Overweight from Equal Weight at Stephens
09/07/18
09/07/18
UPGRADE
Target $31

Overweight
Stephens ups Fidelity Southern to Overweight with profitability seen at trough
As previously reported, Stephens analyst Tyler Stafford upgraded Fidelity Southern to Overweight from Equal Weight, as he thinks the bank's profitability is at a trough and should inflect on a path to $2.00 of EPS and a 1.00% ROA in 2020. The analyst, who also highlights the bank's 93% core deposit base and "scarcity value," raised his price target on Fidelity Southern shares to $31 from $25.
09/25/18
SPHN
09/25/18
NO CHANGE
SPHN
FB Financial guidance may add caution about mortgage heavy banks, says Stephens
Stephens analyst Tyler Stafford noted that FB Financial (FBK) has lowered its mortgage expectations for the second half of the year, which he sees being driven by softer volumes than originally expected coupled with incremental GOS margin pressure. Stafford thinks FB Financial's guidance may make investors incrementally more cautious around other mortgage heavy banks, he tells investors. On a list of banks with the largest GOS mortgage exposures as a percentage of revenue as of Q2 2018, Stafford identifies HomeStreet (HMST), Hilltop Holdings (HTH), Fidelity Southern (LION) and Flagstar Bancorp (FBC) alongside FB Financial.

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