Short Interest in The First of Long Island Co. (NASDAQ:FLIC) Increases By 19.9%

The First of Long Island Co. (NASDAQ:FLIC - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 141,500 shares, a growth of 19.9% from the December 31st total of 118,000 shares. Based on an average daily volume of 98,800 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On First of Long Island

Several institutional investors have recently bought and sold shares of FLIC. FMR LLC increased its holdings in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock valued at $45,000 after acquiring an additional 1,950 shares during the period. SG Americas Securities LLC bought a new stake in First of Long Island during the third quarter valued at about $118,000. Janney Montgomery Scott LLC purchased a new position in First of Long Island in the fourth quarter valued at about $126,000. Proficio Capital Partners LLC purchased a new position in First of Long Island in the fourth quarter valued at about $165,000. Finally, CWM LLC raised its holdings in First of Long Island by 87.8% in the third quarter. CWM LLC now owns 14,668 shares of the bank's stock worth $189,000 after purchasing an additional 6,856 shares in the last quarter. 48.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on First of Long Island in a research note on Friday, January 31st. They issued a "hold" rating for the company.

First of Long Island Trading Up 0.9 %

NASDAQ FLIC traded up $0.12 on Wednesday, hitting $13.56. 112,899 shares of the stock were exchanged, compared to its average volume of 90,483. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The firm has a market capitalization of $305.70 million, a P/E ratio of 18.08 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a fifty day moving average price of $12.61 and a two-hundred day moving average price of $12.83.

First of Long Island (NASDAQ:FLIC - Get Free Report) last issued 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 return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.19%. First of Long Island's dividend payout ratio is presently 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.