The First of Long Island Co. (NASDAQ:FLIC) Sees Significant Increase in Short Interest

The First of Long Island Co. (NASDAQ:FLIC) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 81,300 shares, an increase of 6.7% from the October 31st total of 76,200 shares. Based on an average daily volume of 122,200 shares, the short-interest ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on First of Long Island in a research note on Thursday, November 28th. They set a “hold” rating for the company.

Insider Buying and Selling

In related news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This represents a 97.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On First of Long Island

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after acquiring an additional 8,109 shares in the last quarter. CWM LLC increased its stake in shares of First of Long Island by 292.0% in the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after acquiring an additional 5,819 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of First of Long Island by 9.2% in the second quarter. Bank of New York Mellon Corp now owns 173,446 shares of the bank’s stock worth $1,738,000 after purchasing an additional 14,656 shares during the last quarter. Rhumbline Advisers boosted its stake in First of Long Island by 3.8% in the second quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock valued at $335,000 after acquiring an additional 1,231 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its position in shares of First of Long Island by 6.9% during the 2nd quarter. Anchor Capital Advisors LLC now owns 165,684 shares of the bank’s stock valued at $1,660,000 after buying an additional 10,660 shares in the last quarter. Institutional investors own 48.33% of the company’s stock.

First of Long Island Stock Performance

NASDAQ FLIC opened at $14.34 on Tuesday. The company has a market capitalization of $323.22 million, a PE ratio of 16.30 and a beta of 0.71. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. The company has a fifty day moving average of $13.41 and a two-hundred day moving average of $12.08.

First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a yield of 5.86%. First of Long Island’s dividend payout ratio (DPR) is currently 95.46%.

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.