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

The First of Long Island Co. (NASDAQ:FLIC) was the target of a large growth in short interest in 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. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 119,200 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

A number of brokerages recently weighed in on FLIC. StockNews.com started coverage on shares of First of Long Island in a report on Sunday, October 27th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods boosted 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.

First of Long Island Stock Down 1.1 %

Shares of NASDAQ:FLIC opened at $12.58 on Friday. The company has a 50 day moving average of $12.86 and a 200-day moving average of $11.48. First of Long Island has a one year low of $9.30 and a one year high of $13.95. The stock has a market cap of $283.49 million, a price-to-earnings ratio of 14.29 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio (DPR) is currently 95.45%.

Insider Transactions at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares in the company, valued at approximately $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 6.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after buying an additional 8,109 shares during the period. ProShare Advisors LLC increased its stake in shares of First of Long Island by 8.2% in the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of First of Long Island by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after acquiring an additional 10,400 shares during the period. AQR Capital Management LLC boosted its stake in First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after acquiring an additional 321,032 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in First of Long Island by 17.3% during the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after purchasing an additional 51,792 shares during the period. 48.33% of the stock is owned by institutional investors and hedge funds.

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.