Market Overview

UPDATE: Keefe, Bruyette & Woods Upgrades Fidelity Southern Following 1Q14 Earnings Beat

Share:

In a report published Tuesday, Keefe, Bruyette & Woods analyst Brady Gailey upgraded the rating on Fidelity Southern (NASDAQ: LION) from Market Perform to Outperform, and reiterated the $16.00 price target.

In the report, Keefe, Bruyette & Woods noted, “LION reported a 1Q14 earnings beat driven mostly by a negative provision as the LLR fell 11 bpts and there were no NCOs. Mortgage revenues declined 8% LQ, better than 4Q's 31% LQ decline. Noncovered loan balances fell 8% LQ as LION sold some HFI indirect auto in the qtr. Excluding this loan sale, loan growth would have been 3% LQA. LION doubled its qtrly cash dividend to 8c and now has a nice 2.3% yield. Modestly lowering EPS estimates on lower NIM/loan growth. $16 price target unchanged. Raising to Outperform on valuation.”

Fidelity Southern closed on Monday at $13.97.

Latest Ratings for LION

DateFirmActionFromTo
Sep 2018Stephens & Co.UpgradesEqual-WeightOverweight
Jul 2016Keefe Bruyette & WoodsUpgradesMarket PerformOutperform
May 2016FBR CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for LION
View the Latest Analyst Ratings

Posted-In: Brady Gailey Bruyette & Woods KeefeAnalyst Color Upgrades Analyst Ratings

 

Related Articles (LION)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
CRONPI FinancialDowngrades24.0
BBBYBank of AmericaUpgrades0.0
TIERBMO CapitalMaintains29.0
CNATRoth CapitalDowngrades0.0
WWEMKM PartnersMaintains110.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Trader Essentials
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Benzinga's Top #PreMarket Gainers

UPDATE: Credit Suisse Upgrades Facebook on Increased Growth Trajectory