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

The First of Long Island Co. (NASDAQ:FLIC - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 169,600 shares, an increase of 25.4% from the March 15th total of 135,200 shares. Approximately 0.8% of the company's stock are sold short. Based on an average daily trading volume, of 87,600 shares, the short-interest ratio is presently 1.9 days.

First of Long Island Stock Down 2.5 %

Shares of First of Long Island stock traded down $0.30 on Friday, hitting $11.33. 6,207 shares of the company traded hands, compared to its average volume of 106,189. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $256.34 million, a PE ratio of 15.07 and a beta of 0.69. The company has a 50-day moving average price of $12.01 and a 200 day moving average price of $12.69.

First of Long Island (NASDAQ:FLIC - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts' consensus estimates 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were issued a $0.21 dividend. The ex-dividend date was Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 7.42%. First of Long Island's dividend payout ratio is currently 112.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on FLIC. Keefe, Bruyette & Woods raised First of Long Island from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st. StockNews.com assumed coverage on shares of First of Long Island in a research report on Monday. They issued a "hold" rating for the company.

Institutional Trading of First of Long Island

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock worth $743,000 after purchasing an additional 24,399 shares during the last quarter. State Street Corp raised its holdings in First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank's stock valued at $6,509,000 after buying an additional 16,456 shares in the last quarter. FMR LLC raised its holdings in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank's stock valued at $45,000 after buying an additional 1,950 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of First of Long Island in the fourth quarter worth about $169,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of First of Long Island during the 4th quarter worth about $165,000. 48.33% of the stock is currently 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.