First South Bancorp Inc (FSBK) Hits a New 52-Week High


The company is trading up since yesterday’s close of 18.66. It is trading at $18.99 marginally over $18.06, the 50 day moving average and which is quite a bit higher than the 200 day moving average of $16.04. The 50 day moving average was up $0.93 or +5.17% and the 200 day average moved up $2.95.

Traders are feeling more bullish recently as implied by the motion in short interest. The company realized a fall in short interest from September 15, 2017 to September 29, 2017 of -16.15%. Short shares decreased 2,375 over that period. The short-interest ratio decreased to 0.0 and the percentage of shorted shares was 0.00% on September 29.

First South Bancorp, Inc., launched on January 7, 1999, is the bank holding company 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..

Here are a few substantial investment firms who have updated their positions. River Oaks Capital LLC downsized its investment by selling 82,800 shares a decrease of 32.9% in the quarter. River Oaks Capital LLC owns 169,000 shares valued at $2,795,000. The value of the position overall is down by 8.5%. Tower Research Capital LLC (trc) grew its ownership by buying 98 shares an increase of 4,900.0%. Tower Research Capital LLC (trc) now controls 100 shares worth $2,000. The total value of its holdings increased inf%.

As of quarter end Context Bh Capital Management, Lp had acquired 1,300 shares growing its holdings by 7.8%. The value of the company’s investment in First South Bancorp Inc increased from $202,000 to $296,000 increasing 46.5% for the reporting period. Chicago Capital Management, LLC bolstered its holdings by buying 179,671 shares an increase of 102.4% from 06/30/2017 to 09/30/2017. Chicago Capital Management, LLC currently owns 355,108 shares with a value of $6,580,000. The value of the position overall is up by 126.7%.

The company also recently announced a dividend for shareholders which was paid on Friday August 18th, 2017. The dividend payment was $0.035 per share for the quarter or $0.14 on an annualized basis. This dividend amount represented a yield of $0.76. The ex-dividend date was set for Friday the 4th of August 2017.

The P/E ratio is 23.16 and the market cap of the company is 180.46M.