First of Long Island Corp (NASDAQ:FLIC) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 241,800 shares, an increase of 15.1% from the May 30th total of 210,100 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 58,400 shares, the days-to-cover ratio is presently 4.1 days.
In other news, CEO Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $22.60, for a total value of $67,800.00. Following the sale, the chief executive officer now owns 112,679 shares of the company’s stock, valued at approximately $2,546,545.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.93% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in First of Long Island by 9.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 732,545 shares of the bank’s stock worth $14,614,000 after acquiring an additional 61,242 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of First of Long Island by 11.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 582,753 shares of the bank’s stock valued at $12,780,000 after purchasing an additional 58,910 shares during the last quarter. Basswood Capital Management L.L.C. boosted its stake in shares of First of Long Island by 101.1% in the 4th quarter. Basswood Capital Management L.L.C. now owns 488,568 shares of the bank’s stock valued at $9,747,000 after purchasing an additional 245,625 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of First of Long Island by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 268,758 shares of the bank’s stock valued at $5,361,000 after purchasing an additional 21,704 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of First of Long Island by 24.4% in the 4th quarter. Bank of New York Mellon Corp now owns 171,179 shares of the bank’s stock valued at $3,415,000 after purchasing an additional 33,553 shares during the last quarter. 54.54% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:FLIC traded up $0.17 during mid-day trading on Friday, reaching $21.82. 45,994 shares of the company were exchanged, compared to its average volume of 103,807. First of Long Island has a 12 month low of $17.53 and a 12 month high of $25.85. The firm’s fifty day moving average is $21.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $543.34 million, a PE ratio of 13.39 and a beta of 0.63.
First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). First of Long Island had a return on equity of 10.80% and a net margin of 28.70%. The company had revenue of $27.85 million for the quarter, compared to the consensus estimate of $28.65 million. On average, equities research analysts predict that First of Long Island will post 1.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Friday, July 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, July 11th. First of Long Island’s dividend payout ratio is currently 41.72%.
A number of equities research analysts have commented on the stock. ValuEngine lowered shares of Virtu Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 18th. Zacks Investment Research raised shares of Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Thursday, May 30th. Boenning Scattergood reissued a “hold” rating on shares of American Water Works in a report on Thursday, May 2nd. Finally, BidaskClub lowered shares of Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th.
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, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.
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