Notable Mover: First South Bancorp, Inc. on Focus After Gap Down In Today’s Session

Notable Mover: First South Bancorp, Inc. on Focus After Gap Down In Today's Session

The stock of First South Bancorp, Inc. (NASDAQ:FSBK) gapped down by $0.04 today and has $8.30 target or 14.00% below today’s $9.65 share price. The 6 months technical chart setup indicates high risk for the $94.35 million company. The gap down was reported on Oct, 4 by Barchart.com. If the $8.30 price target is reached, the company will be worth $13.21M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.10% or $0.01 on October 3, hitting $9.65. About 17,078 shares traded hands or 221.74% up from the average. First South Bancorp, Inc. (NASDAQ:FSBK) has risen 16.13% since March 1, 2016 and is uptrending. It has outperformed by 3.91% the S&P500.

Analysts await First South Bancorp, Inc. (NASDAQ:FSBK) to report earnings on November, 4.

According to Zacks Investment Research, “First South Bancorp, Inc. serves as the holding company for First South Bank.”

Insitutional Activity: The institutional sentiment increased to 1.2 in Q2 2016. Its up 0.31, from 0.89 in 2016Q1. The ratio increased, as 3 funds sold all First South Bancorp, Inc. shares owned while 7 reduced positions. 3 funds bought stakes while 9 increased positions. They now own 1.73 million shares or 5.72% less from 1.83 million shares in 2016Q1.
Nationwide Fund has 0% invested in the company for 1,350 shares. The California-based California Pub Employees Retirement has invested 0% in First South Bancorp, Inc. (NASDAQ:FSBK). Blackrock Investment Mngmt Ltd Liability Co accumulated 0% or 1,563 shares. Goldman Sachs Grp Inc holds 24,836 shares or 0% of its portfolio. Gendell Jeffrey L holds 0.36% of its portfolio in First South Bancorp, Inc. (NASDAQ:FSBK) for 189,910 shares. Deutsche Retail Bank Ag holds 0% of its portfolio in First South Bancorp, Inc. (NASDAQ:FSBK) for 1,898 shares. Northern Trust Corp has 15,960 shares for 0% of their US portfolio. Dimensional Fund Advsrs L P has invested 0% of its portfolio in First South Bancorp, Inc. (NASDAQ:FSBK). Alliancebernstein Ltd Partnership has 131,055 shares for 0% of their US portfolio. Moreover, Federated Investors Pa has 0% invested in First South Bancorp, Inc. (NASDAQ:FSBK) for 112 shares. Bank Of America Corp De last reported 0% of its portfolio in the stock. The Pennsylvania-based Vanguard Grp Inc has invested 0% in First South Bancorp, Inc. (NASDAQ:FSBK). Blackrock Fund has 0% invested in the company for 39,168 shares. Wells Fargo Mn last reported 0% of its portfolio in the stock. Blackrock Advisors Limited Liability last reported 3,052 shares in the company.

Insider Transactions: Since April 18, 2016, the stock had 8 buys, and 0 sales for $169,780 net activity. LEE L STEVEN had bought 5,000 shares worth $42,500. ELDER BRUCE W bought $6,758 worth of First South Bancorp, Inc. (NASDAQ:FSBK) on Monday, April 18. GRIFFIN STEVE L bought 795 shares worth $7,298. WOODSON J RANDY also bought $6,962 worth of First South Bancorp, Inc. (NASDAQ:FSBK) on Monday, April 25. 8,400 shares were bought by CRISP LINDSEY A, worth $71,271. $3,658 worth of First South Bancorp, Inc. (NASDAQ:FSBK) was bought by JABER PAUL S on Friday, September 16.

More notable recent First South Bancorp, Inc. (NASDAQ:FSBK) news were published by: Prnewswire.com which released: “First South Bank Adds Nine Locations in North Carolina” on December 15, 2014, also Prnewswire.com with their article: “First South Bank Announces Branch Openings, Relocation and Restructuring” published on November 18, 2015, Prnewswire.com published: “Tom Vann, CEO, First South Bancorp, Inc. Announces Retirement Plans” on January 17, 2012. More interesting news about First South Bancorp, Inc. (NASDAQ:FSBK) were released by: Prnewswire.com and their article: “First South Leasing Opens New Leasing Production Office in Charlotte, North …” published on February 04, 2014 as well as Equitiesfocus.com‘s news article titled: “First South Bancorp Inc (NASDAQ:FSBK) Reported Basic Consolidated EPS Of $0 …” with publication date: September 21, 2016.

FSBK Company Profile

First South Bancorp, Inc., incorporated on January 7, 1999, is the bank holding firm for First South Bank (the Bank). Through the Bank, the Company operates a commercial banking business. The Bank is a North Carolina chartered commercial bank. The Bank’s segment is providing general commercial banking services to its markets located in the state of North Carolina. The Bank’s principal business consists of attracting deposits from the general public and investing the funds in commercial real estate loans, commercial and industrial business loans, consumer loans and loans secured by first and second mortgages on owner-occupied, single-family residences in the Bank’s market area. The Bank’s income consists of interest and fees earned on loans and investments, loan servicing and other fees, gains on the sale of loans and investments, and service charges and fees collected on deposit accounts. The Bank’s expenses consist of interest expense on deposits and borrowings and noninterest expense, such as compensation and employee benefits, occupancy expenses, Federal Deposit Insurance Corporation (FDIC) insurance, and other miscellaneous expenses. The Bank makes loans and obtains deposits across eastern and central North Carolina.

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