The First of Long Island Co. (NASDAQ:FLIC) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its holdings in The First of Long Island Co. (NASDAQ:FLIC) by 17.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,288 shares of the bank’s stock after buying an additional 5,008 shares during the period. Focus Partners Wealth owned 0.15% of First of Long Island worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Anchor Capital Advisors LLC increased its position in First of Long Island by 0.5% during the fourth quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock worth $2,058,000 after purchasing an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in First of Long Island by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock worth $2,034,000 after purchasing an additional 1,271 shares during the last quarter. SG Americas Securities LLC increased its position in First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after purchasing an additional 2,614 shares during the last quarter. Empowered Funds LLC increased its position in First of Long Island by 5.0% during the fourth quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock worth $712,000 after purchasing an additional 2,876 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in First of Long Island by 3.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 99,124 shares of the bank’s stock worth $1,158,000 after purchasing an additional 2,876 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.04 to $16.56 in a research report on Tuesday, April 1st. StockNews.com assumed coverage on shares of First of Long Island in a research note on Wednesday, May 7th. They issued a “hold” rating for the company.

First of Long Island Stock Down 0.4%

Shares of First of Long Island stock opened at $12.32 on Wednesday. The First of Long Island Co. has a one year low of $9.30 and a one year high of $15.03. The company has a market cap of $279.42 million, a P/E ratio of 16.43 and a beta of 0.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average of $11.78 and a two-hundred day moving average of $12.57.

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

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is 116.67%.

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.