Wells Fargo & Company MN Has $272,000 Position in The First of Long Island Co. (NASDAQ:FLIC)

Wells Fargo & Company MN grew its position in The First of Long Island Co. (NASDAQ:FLIC) by 113.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,322 shares of the bank’s stock after acquiring an additional 12,415 shares during the period. Wells Fargo & Company MN owned 0.10% of First of Long Island worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ABC Arbitrage SA bought a new position in First of Long Island in the 4th quarter worth approximately $4,545,000. Wellington Management Group LLP increased its stake in shares of First of Long Island by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock valued at $7,386,000 after buying an additional 212,216 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of First of Long Island during the fourth quarter worth $1,856,000. American Century Companies Inc. raised its position in shares of First of Long Island by 12.6% during the fourth quarter. American Century Companies Inc. now owns 443,701 shares of the bank’s stock worth $5,182,000 after acquiring an additional 49,798 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of First of Long Island by 27.9% during the fourth quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock valued at $2,399,000 after acquiring an additional 44,857 shares during the period. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Stock Down 1.3 %

NASDAQ:FLIC opened at $11.93 on Wednesday. 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 First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $15.03. The stock’s fifty day simple moving average is $11.74 and its 200-day simple moving average is $12.59. The firm has a market capitalization of $270.04 million, a P/E ratio of 15.91 and a beta of 0.85.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Wednesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The company had revenue of $21.54 million for the quarter, compared to the consensus estimate of $21.89 million. First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.04%. The ex-dividend date was Monday, March 24th. First of Long Island’s payout ratio is presently 116.67%.

Analyst Ratings Changes

FLIC has been the subject of several recent research reports. StockNews.com began coverage on First of Long Island in a report on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised shares of First of Long Island from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st.

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.