The First of Long Island Co. (NASDAQ:FLIC) Short Interest Up 42.8% in March

The First of Long Island Co. (NASDAQ:FLIC) was the recipient of a significant increase in short interest in the month of 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. Currently, 0.6% of the shares of the company are sold short. Based on an average trading volume of 90,600 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on First of Long Island in a report on Friday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On First of Long Island

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

First of Long Island Stock Performance

FLIC traded up $0.00 on Monday, reaching $12.29. The stock had a trading volume of 53,412 shares, compared to its average volume of 108,081. The business’s 50-day moving average price is $12.69 and its two-hundred day moving average price is $12.91. The company has a market cap of $278.23 million, a P/E ratio of 16.41 and a beta of 0.75. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last announced its quarterly 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 firm also recently announced 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 of this dividend is Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.83%. First of Long Island’s dividend payout ratio (DPR) is 112.00%.

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.