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

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com assumed coverage on First of Long Island in a research note on Wednesday, September 25th. They set a “hold” rating for the company. Keefe, Bruyette & Woods boosted their target price on First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insider Activity at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.33% of the stock is owned by insiders.

Institutional Trading of First of Long Island

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the last quarter. ProShare Advisors LLC boosted its holdings in First of Long Island by 8.2% in the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in First of Long Island by 32.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after acquiring an additional 3,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after acquiring an additional 8,109 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in First of Long Island by 8.1% in the first quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after acquiring an additional 3,850 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors.

First of Long Island Stock Performance

NASDAQ:FLIC opened at $12.68 on Wednesday. The stock has a market cap of $285.50 million, a P/E ratio of 11.74 and a beta of 0.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The stock’s 50-day moving average is $12.55 and its 200-day moving average is $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 released 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 for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $0.31 earnings per share.

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.