Wealth Enhancement Advisory Services LLC Makes New Investment in The First of Long Island Co. (NASDAQ:FLIC)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of The First of Long Island Co. (NASDAQ:FLIC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,818 shares of the bank’s stock, valued at approximately $126,000.

Several other hedge funds have also recently bought and sold shares of FLIC. Wellington Management Group LLP raised its stake in First of Long Island by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock worth $7,386,000 after acquiring an additional 212,216 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in First of Long Island during the fourth quarter worth $1,856,000. Credit Industriel ET Commercial acquired a new position in First of Long Island during the fourth quarter worth $1,180,000. Millennium Management LLC raised its stake in First of Long Island by 79.9% during the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after acquiring an additional 68,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in First of Long Island by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank’s stock worth $13,485,000 after acquiring an additional 55,710 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

First of Long Island Price Performance

Shares of FLIC stock opened at $11.88 on Wednesday. The stock’s fifty day moving average is $11.77 and its 200-day moving average is $12.26. 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 stock has a market capitalization of $269.44 million, a PE ratio of 15.84 and a beta of 0.85. The First of Long Island Co. has a 52 week low of $9.51 and a 52 week high of $15.03.

First of Long Island (NASDAQ:FLIC) last announced its earnings results on Wednesday, April 30th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The business 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%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen began coverage on First of Long Island in a research note on Wednesday, May 7th. They set a “hold” rating for the company. Keefe, Bruyette & Woods upgraded First of Long Island from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $16.04 to $16.56 in a report 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.