The First of Long Island Co. (NASDAQ:FLIC – Get Free Report) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 150,700 shares, a drop of 8.2% from the March 15th total of 164,200 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 164,400 shares, the days-to-cover ratio is currently 0.9 days.
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 report on Monday, February 26th.
Read Our Latest Stock Report on FLIC
Institutional Trading of First of Long Island
First of Long Island Trading Down 1.1 %
Shares of First of Long Island stock traded down $0.11 during trading on Tuesday, hitting $10.05. The company’s stock had a trading volume of 136,846 shares, compared to its average volume of 166,383. The stock has a market cap of $225.72 million, a price-to-earnings ratio of 8.59 and a beta of 0.64. First of Long Island has a 52 week low of $8.79 and a 52 week high of $14.26. The stock has a 50-day moving average price of $10.89 and a two-hundred day moving average price of $11.57. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.98 and a quick ratio of 0.98.
First of Long Island (NASDAQ:FLIC – Get Free Report) last announced its earnings results on Thursday, January 25th. The bank reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $22.36 million for the quarter, compared to analyst estimates of $23.20 million. First of Long Island had a return on equity of 7.13% and a net margin of 16.22%. Equities research analysts anticipate that First of Long Island will post 1.03 EPS for the current fiscal year.
First of Long Island Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 13th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.84 dividend on an annualized basis and a yield of 8.36%. First of Long Island’s dividend payout ratio (DPR) is presently 71.79%.
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.
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