The First of Long Island Co. (NASDAQ:FLIC) Short Interest Update

The First of Long Island Co. (NASDAQ:FLIC) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 141,500 shares, an increase of 19.9% from the December 15th 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. Currently, 0.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of First of Long Island in a research report on Wednesday. They set a “hold” rating for the company.

First of Long Island Price Performance

Shares of NASDAQ FLIC traded up $0.09 during trading on Friday, hitting $11.80. The company had a trading volume of 81,999 shares, compared to its average volume of 81,067. The business’s 50-day moving average is $13.07 and its 200 day moving average is $12.69. The company has a market cap of $266.02 million, a P/E ratio of 13.41 and a beta of 0.74. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Tuesday, December 31st. First of Long Island’s payout ratio is 95.45%.

Institutional Investors Weigh In On First of Long Island

A number of large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in First of Long Island in the 4th quarter worth about $126,000. SG Americas Securities LLC lifted its position in shares of First of Long Island by 28.4% in the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after purchasing an additional 2,614 shares in the last quarter. Barclays PLC boosted its holdings in shares of First of Long Island by 73.1% during the third 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 period. Geode Capital Management LLC grew its position in First of Long Island by 3.0% during the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock valued at $6,447,000 after purchasing an additional 14,736 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in First of Long Island in the 3rd quarter valued at approximately $5,407,000. Institutional investors and hedge funds 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.