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

The First of Long Island Co. (NASDAQ:FLIC) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 100,000 shares, a growth of 5.9% from the September 30th total of 94,400 shares. Based on an average daily volume of 119,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.5% of the shares of the stock are sold short.

First of Long Island Stock Down 0.4 %

Shares of NASDAQ:FLIC opened at $12.52 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The business’s 50 day moving average is $12.87 and its 200 day moving average is $11.49. The stock has a market cap of $282.20 million, a P/E ratio of 14.23 and a beta of 0.69. First of Long Island has a 52-week low of $9.30 and a 52-week high of $13.95.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.71%. First of Long Island’s payout ratio is currently 95.46%.

Insider Buying and Selling at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction dated 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 directly owns 3,453 shares in the company, valued at approximately $43,853.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.33% of the stock is owned by company insiders.

Institutional Trading of First of Long Island

A number of hedge funds have recently added to or reduced their stakes in FLIC. EntryPoint Capital LLC purchased a new stake in shares of First of Long Island in the 1st quarter worth approximately $42,000. CWM LLC lifted its holdings in First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after buying an additional 5,819 shares during the period. Evoke Wealth LLC bought a new stake in First of Long Island during the 2nd quarter valued at $103,000. Hillsdale Investment Management Inc. purchased a new position in shares of First of Long Island in the 1st quarter valued at $105,000. Finally, SG Americas Securities LLC bought a new position in shares of First of Long Island in the 3rd quarter worth $118,000. 48.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLIC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com began coverage on shares of First of Long Island in a report on Sunday, October 27th. They set a “hold” rating for the company.

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.