The First of Long Island Co. (NASDAQ:FLIC) Short Interest Update

The First of Long Island Co. (NASDAQ:FLIC) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 81,300 shares, an increase of 6.7% from the October 31st total of 76,200 shares. Based on an average trading volume of 122,200 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on First of Long Island in a research report on Thursday, November 28th. They set a “hold” rating on the stock.

First of Long Island Trading Down 1.3 %

Shares of FLIC stock opened at $14.16 on Wednesday. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company has a market cap of $319.17 million, a price-to-earnings ratio of 16.09 and a beta of 0.71. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50 day simple moving average of $13.44 and a 200-day simple moving average of $12.11.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio is presently 95.46%.

Insider Activity at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now owns 3,453 shares in the company, valued at approximately $43,853.10. This trade represents a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.67% of the stock is owned by company insiders.

Institutional Trading of First of Long Island

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers raised its position in shares of First of Long Island by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after purchasing an additional 1,231 shares during the last quarter. FMR LLC lifted its position in shares of First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares in the last quarter. Sei Investments Co. increased its position in shares of First of Long Island by 13.0% during the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after purchasing an additional 2,500 shares in the last quarter. Empowered Funds LLC raised its stake in First of Long Island by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in First of Long Island by 14.9% in the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,810 shares in the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

About First of Long Island

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.