The First of Long Island Co. (NASDAQ:FLIC) Sees Large Increase in Short Interest

The First of Long Island Co. (NASDAQ:FLIC) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 135,200 shares, an increase of 42.8% from the February 28th total of 94,700 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 90,600 shares, the days-to-cover ratio is presently 1.5 days.

First of Long Island Stock Up 0.2 %

FLIC stock traded up $0.03 during mid-day trading on Tuesday, reaching $12.38. The company had a trading volume of 18,652 shares, compared to its average volume of 108,048. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The company has a market capitalization of $280.22 million, a price-to-earnings ratio of 16.47 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day simple moving average of $12.70 and a 200 day simple moving average of $12.92.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.79%. First of Long Island’s payout ratio is currently 112.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com started coverage on shares of First of Long Island in a research report on Friday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised shares of First of Long Island from a “market perform” rating to an “outperform” rating in a research report on Tuesday.

Hedge Funds Weigh In On First of Long Island

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of First of Long Island by 50.5% during the 4th quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock worth $7,386,000 after acquiring an additional 212,216 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in First of Long Island during the fourth quarter worth approximately $126,000. Sherbrooke Park Advisers LLC acquired a new position in First of Long Island in the fourth quarter valued at approximately $136,000. Millennium Management LLC increased its stake in First of Long Island by 79.9% in the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock valued at $1,809,000 after purchasing an additional 68,807 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in First of Long Island by 17.1% in the fourth quarter. Focus Partners Wealth now owns 34,288 shares of the bank’s stock valued at $400,000 after purchasing an additional 5,008 shares during the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

First of Long Island Company Profile

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.