BlackRock Inc. Makes New Investment in Fidelity D&D Bancorp Inc. $FDBC

Key Points

• BlackRock acquired 345,008 shares of Fidelity D&D Bancorp in the second quarter, worth approximately $17.74 million and representing a 5.94% stake. Institutional investors collectively own 20.05% of the company.
• Fidelity D&D Bancorp reported quarterly earnings of $1.33 per share on $20.76 million in revenue, with a 12.67% return on equity and a 21.12% net margin.
• The company declared a quarterly dividend of $0.43 per share, equivalent to $1.72 annually and a 3.1% yield. Weiss Ratings upgraded the stock to “buy (b),” while MarketBeat reports an overall “Buy” rating.

BlackRock Inc. acquired a new position in Fidelity D&D Bancorp Inc. (NASDAQ:FDBC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 345,008 shares of the financial services provider's stock, valued at approximately $17,740,000. BlackRock Inc. owned approximately 5.94% of Fidelity D&D Bancorp at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Siena Capital Partners GP LLC lifted its position in Fidelity D&D Bancorp by 2,289.6% in the 4th quarter. Siena Capital Partners GP LLC now owns 21,363 shares of the financial services provider's stock worth $930,000 after buying an additional 20,469 shares during the last quarter. Bank of America Corp DE grew its position in Fidelity D&D Bancorp by 7.5% during the third quarter. Bank of America Corp DE now owns 6,827 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 475 shares during the last quarter. Wells Fargo & Company MN grew its position in Fidelity D&D Bancorp by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,330 shares of the financial services provider's stock valued at $232,000 after acquiring an additional 1,685 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Fidelity D&D Bancorp by 21.5% during the third quarter. JPMorgan Chase & Co. now owns 4,925 shares of the financial services provider's stock worth $216,000 after acquiring an additional 870 shares in the last quarter. Finally, Curi Capital LLC purchased a new position in shares of Fidelity D&D Bancorp during the second quarter worth approximately $201,000. 20.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Fidelity D&D Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

Fidelity D&D Bancorp Price Performance

Shares of Fidelity D&D Bancorp stock opened at $55.02 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.85 and a quick ratio of 0.85. Fidelity D&D Bancorp Inc. has a one year low of $39.87 and a one year high of $56.14. The business's 50 day simple moving average is $52.91 and its two-hundred day simple moving average is $48.22. The stock has a market capitalization of $319.67 million, a P/E ratio of 10.48 and a beta of 0.83.

Fidelity D&D Bancorp (NASDAQ:FDBC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.33 earnings per share for the quarter. Fidelity D&D Bancorp had a return on equity of 12.67% and a net margin of 21.12%.The firm had revenue of $20.76 million during the quarter.

Fidelity D&D Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.72 annualized dividend and a yield of 3.1%. Fidelity D&D Bancorp's dividend payout ratio is presently 32.76%.

Fidelity D&D Bancorp Profile

Fidelity D&D Bancorp, Inc is the bank holding company for Fidelity Deposit & Discount Bank, a New York–chartered community bank headquartered in Melville, New York. Through its banking subsidiary, the company offers a broad range of deposit and lending products designed to meet the needs of individuals, small businesses and commercial clients throughout Long Island's Nassau and Suffolk counties.

On the deposit side, Fidelity Deposit & Discount Bank provides traditional checking and savings accounts, money market accounts and certificates of deposit.

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