The First of Long Island Co. (NASDAQ:FLIC) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its stake in The First of Long Island Co. (NASDAQ:FLIC) by 79.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 154,915 shares of the bank’s stock after buying an additional 68,807 shares during the quarter. Millennium Management LLC owned 0.69% of First of Long Island worth $1,809,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FLIC. Anchor Capital Advisors LLC raised its holdings in First of Long Island by 0.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock valued at $2,058,000 after acquiring an additional 877 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of First of Long Island by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after purchasing an additional 1,271 shares during the last quarter. SG Americas Securities LLC increased its position in shares of First of Long Island by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,614 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of First of Long Island by 5.0% in the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock valued at $712,000 after purchasing an additional 2,876 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of First of Long Island by 3.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 99,124 shares of the bank’s stock valued at $1,158,000 after purchasing an additional 2,876 shares in the last quarter. 48.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on FLIC shares. Wall Street Zen assumed coverage on First of Long Island in a report on Wednesday, May 7th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised First of Long Island from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $16.04 to $16.56 in a research report on Tuesday, April 1st.

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $11.88 on Tuesday. 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 52 week low of $9.30 and a 52 week high of $15.03. The firm’s 50 day moving average is $11.71 and its two-hundred day moving average is $12.44. The firm has a market capitalization of $269.44 million, a P/E ratio of 15.84 and a beta of 0.85.

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

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date was Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is currently 116.67%.

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, 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.