The First of Long Island Co. (NASDAQ:FLIC) Short Interest Down 6.6% in September

The First of Long Island Co. (NASDAQ:FLIC) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 132,500 shares, a decrease of 6.6% from the August 31st total of 141,900 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 151,800 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. StockNews.com assumed coverage on First of Long Island in a research note on Wednesday, September 25th. They issued a “hold” rating for the company.

First of Long Island Stock Down 1.5 %

Shares of NASDAQ:FLIC opened at $12.68 on Wednesday. The company has a market capitalization of $285.50 million, a PE ratio of 11.74 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. The business has a fifty day moving average price of $12.55 and a two-hundred day moving average price of $11.12. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same quarter in the prior year, the company earned $0.31 EPS.

Insider Transactions at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Webster Bank N. A. bought a new position in shares of First of Long Island during the 1st quarter worth $28,000. EntryPoint Capital LLC bought a new position in shares of First of Long Island during the 1st quarter worth $42,000. CWM LLC grew its stake in shares of First of Long Island by 292.0% during the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after acquiring an additional 5,819 shares during the period. Evoke Wealth LLC bought a new position in First of Long Island in the 2nd quarter worth about $103,000. Finally, Hillsdale Investment Management Inc. bought a new position in First of Long Island in the 1st quarter worth about $105,000. Institutional investors own 48.33% of the company’s stock.

About First of Long Island

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.