First of Long Island Corp (NASDAQ:FLIC) Short Interest Up 33.9% in June

First of Long Island Corp (NASDAQ:FLIC) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 210,100 shares, an increase of 33.9% from the May 15th total of 156,900 shares. Based on an average trading volume of 42,800 shares, the short-interest ratio is presently 4.9 days. Approximately 0.9% of the shares of the company are sold short.

NASDAQ FLIC traded down $0.80 during trading on Friday, reaching $20.08. The company’s stock had a trading volume of 160,619 shares, compared to its average volume of 67,129. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $506.48 million, a price-to-earnings ratio of 12.32 and a beta of 0.73. First of Long Island has a twelve month low of $17.53 and a twelve month high of $25.85. The business’s fifty day moving average is $21.68.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $27.85 million during the quarter, compared to analyst estimates of $28.65 million. First of Long Island had a net margin of 28.70% and a return on equity of 10.80%. On average, equities analysts predict that First of Long Island will post 1.74 earnings per share for the current fiscal year.

In related news, CEO Michael N. Vittorio sold 3,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $22.60, for a total value of $67,800.00. Following the completion of the sale, the chief executive officer now directly owns 112,679 shares of the company’s stock, valued at $2,546,545.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.93% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in First of Long Island in the fourth quarter valued at $28,000. Legal & General Group Plc increased its stake in First of Long Island by 20.4% in the fourth quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock valued at $97,000 after purchasing an additional 817 shares during the period. BNP Paribas Arbitrage SA increased its stake in First of Long Island by 425.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock valued at $113,000 after purchasing an additional 4,159 shares during the period. SG Americas Securities LLC acquired a new position in First of Long Island in the first quarter valued at $134,000. Finally, Advisor Group Inc. increased its stake in First of Long Island by 659.2% in the fourth quarter. Advisor Group Inc. now owns 7,038 shares of the bank’s stock valued at $141,000 after purchasing an additional 6,111 shares during the period. Institutional investors own 54.54% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Boenning Scattergood reissued a “hold” rating on shares of First of Long Island in a research report on Thursday, May 2nd. Zacks Investment Research cut shares of First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday, April 12th. ValuEngine upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th.

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, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.

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