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

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

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on First of Long Island in a research note on Friday. They set a “hold” rating on the stock.

First of Long Island Trading Up 0.0 %

Shares of NASDAQ FLIC traded up $0.00 during mid-day trading on Monday, reaching $12.29. 53,412 shares of the company’s stock were exchanged, compared to its average volume of 108,081. The company’s 50-day moving average is $12.69 and its 200-day moving average is $12.91. 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 market capitalization of $278.23 million, a price-to-earnings ratio of 16.41 and a beta of 0.75. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03.

First of Long Island (NASDAQ:FLIC) last announced 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 return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 6.83%. First of Long Island’s dividend payout ratio is currently 112.00%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently modified their holdings of the company. FMR LLC grew its position in First of Long Island by 124.0% in the 3rd 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. Wealth Enhancement Advisory Services LLC purchased a new stake in First of Long Island during the 4th quarter worth approximately $126,000. Janney Montgomery Scott LLC acquired a new stake in First of Long Island during the 4th quarter worth approximately $126,000. Algert Global LLC purchased a new position in First of Long Island in the 4th quarter valued at approximately $134,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of First of Long Island in the fourth quarter worth $136,000. 48.33% of the stock is owned by institutional investors and hedge funds.

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.