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

The First of Long Island Co. (NASDAQ:FLIC) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 141,500 shares, a growth of 19.9% from the December 15th total of 118,000 shares. Based on an average daily trading volume, of 98,800 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.7% of the shares of the company are sold short.

Analysts Set New Price Targets

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

First of Long Island Price Performance

FLIC traded up $0.09 during trading on Friday, reaching $11.80. 81,999 shares of the company were exchanged, compared to its average volume of 81,067. 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 $266.02 million, a price-to-earnings ratio of 13.41 and a beta of 0.74. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The company’s 50-day moving average is $13.07 and its two-hundred day moving average is $12.69.

First of Long Island Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after purchasing an additional 1,950 shares in the last quarter. SG Americas Securities LLC bought a new stake in First of Long Island during the third quarter valued at approximately $118,000. Evoke Wealth LLC purchased a new position in First of Long Island in the 2nd quarter worth approximately $103,000. Janney Montgomery Scott LLC bought a new position in shares of First of Long Island in the 4th quarter worth $126,000. Finally, CWM LLC raised its position in shares of First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after buying an additional 6,856 shares in the last quarter. 48.33% of the stock is owned by institutional investors.

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.