The First of Long Island Co. (NASDAQ:FLIC) Short Interest Up 25.4% in March

The First of Long Island Co. (NASDAQ:FLIC) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 169,600 shares, a growth of 25.4% from the March 15th total of 135,200 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 87,600 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com started coverage on shares of First of Long Island in a research report on Monday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised First of Long Island from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $16.04 to $16.56 in a report on Tuesday, April 1st.

Institutional Trading of First of Long Island

A number of hedge funds have recently made changes to their positions in FLIC. Janney Montgomery Scott LLC boosted its position in First of Long Island by 15.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,455 shares of the bank’s stock worth $154,000 after buying an additional 1,634 shares during the period. GAMMA Investing LLC raised its stake in First of Long Island by 2,711.4% during the first quarter. GAMMA Investing LLC now owns 2,952 shares of the bank’s stock worth $36,000 after buying an additional 2,847 shares during the last quarter. Wellington Management Group LLP boosted its position 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 acquiring an additional 212,216 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in First of Long Island during the fourth quarter worth approximately $126,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in First of Long Island in the fourth quarter worth $136,000. 48.33% of the stock is owned by institutional investors and hedge funds.

First of Long Island Price Performance

NASDAQ FLIC traded down $0.08 on Monday, hitting $10.87. 68,857 shares of the company’s stock were exchanged, compared to its average volume of 107,143. The stock has a 50-day moving average of $12.16 and a 200-day moving average of $12.72. The stock has a market cap of $246.04 million, a price-to-earnings ratio of 14.49 and a beta of 0.69. First of Long Island has a 52 week low of $9.30 and a 52 week 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 (EPS) 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 7.73%. First of Long Island’s dividend payout ratio is currently 112.00%.

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.