GAMMA Investing LLC Has $36,000 Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

GAMMA Investing LLC boosted its position in shares of The First of Long Island Co. (NASDAQ:FLIC) by 2,711.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,952 shares of the bank’s stock after buying an additional 2,847 shares during the quarter. GAMMA Investing LLC’s holdings in First of Long Island were worth $36,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of First of Long Island by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock valued at $2,399,000 after purchasing an additional 44,857 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of First of Long Island in the 4th quarter valued at $165,000. Anchor Capital Advisors LLC lifted its stake in shares of First of Long Island by 0.5% in the 4th quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock valued at $2,058,000 after purchasing an additional 877 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of First of Long Island in the 4th quarter valued at $154,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Price Performance

FLIC opened at $11.88 on Friday. 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 $9.57 and a 12 month high of $15.03. The company has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $12.16. The stock has a market cap of $269.44 million, a P/E ratio of 15.84 and a beta of 0.85.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data 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 firm had revenue of $21.54 million during the quarter, compared to the consensus estimate of $21.89 million.

Wall Street Analysts Forecast Growth

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

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.