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

The First of Long Island Co. (NASDAQ:FLICGet Free Report) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 165,800 shares, a decline of 7.2% from the May 15th total of 178,700 shares. Based on an average trading volume of 104,600 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.8% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Wednesday.

Check Out Our Latest Research Report on First of Long Island

First of Long Island Stock Performance

First of Long Island stock traded down $0.03 during midday trading on Wednesday, reaching $9.63. 83,577 shares of the company’s stock were exchanged, compared to its average volume of 79,923. The stock’s 50-day simple moving average is $10.11 and its 200 day simple moving average is $11.26. The firm has a market cap of $216.87 million, a price-to-earnings ratio of 8.92 and a beta of 0.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.99 and a current ratio of 0.99. First of Long Island has a 52 week low of $9.30 and a 52 week high of $14.26.

First of Long Island (NASDAQ:FLICGet Free Report) last issued its earnings results on Friday, April 26th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). First of Long Island had a return on equity of 6.54% and a net margin of 14.14%. The business had revenue of $44.27 million for the quarter, compared to the consensus estimate of $22.50 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. On average, analysts expect that First of Long Island will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First of Long Island

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of First of Long Island by 21.7% in the fourth quarter. SG Americas Securities LLC now owns 11,602 shares of the bank’s stock valued at $154,000 after purchasing an additional 2,068 shares during the last quarter. Webster Bank N. A. bought a new stake in First of Long Island in the 1st quarter valued at $28,000. Strs Ohio boosted its stake in First of Long Island by 6.7% in the 4th quarter. Strs Ohio now owns 43,300 shares of the bank’s stock valued at $573,000 after purchasing an additional 2,700 shares during the period. Trexquant Investment LP grew its holdings in First of Long Island by 8.5% in the 3rd quarter. Trexquant Investment LP now owns 37,067 shares of the bank’s stock valued at $427,000 after buying an additional 2,892 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in First of Long Island by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after buying an additional 3,570 shares during the period. 48.33% of the stock is currently owned by institutional investors and hedge funds.

About First of Long Island

(Get Free Report)

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.

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