Geode Capital Management LLC lifted its holdings in First of Long Island Co. (NASDAQ:FLIC) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,141 shares of the bank’s stock after acquiring an additional 2,502 shares during the period. Geode Capital Management LLC owned 0.78% of First of Long Island worth $5,504,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in FLIC. SG Americas Securities LLC bought a new position in shares of First of Long Island in the 3rd quarter valued at about $105,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of First of Long Island by 5.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 118,273 shares of the bank’s stock valued at $3,602,000 after acquiring an additional 6,145 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First of Long Island by 9.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 402,869 shares of the bank’s stock valued at $12,268,000 after acquiring an additional 34,381 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of First of Long Island by 8.6% in the 4th quarter. Wasatch Advisors Inc. now owns 669,832 shares of the bank’s stock valued at $19,090,000 after acquiring an additional 53,234 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of First of Long Island by 8.7% in the 4th quarter. Strs Ohio now owns 125,000 shares of the bank’s stock valued at $3,562,000 after acquiring an additional 10,000 shares during the last quarter. 53.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ FLIC opened at $27.40 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $683.00, a price-to-earnings ratio of 18.51 and a beta of 0.71. First of Long Island Co. has a 1 year low of $25.65 and a 1 year high of $33.50.
First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The firm had revenue of $24.59 million during the quarter, compared to the consensus estimate of $27.66 million. First of Long Island had a return on equity of 10.82% and a net margin of 28.02%. sell-side analysts predict that First of Long Island Co. will post 1.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 4th. Shareholders of record on Friday, March 16th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 15th. First of Long Island’s payout ratio is currently 40.54%.
A number of brokerages recently commented on FLIC. BidaskClub downgraded shares of First of Long Island from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Zacks Investment Research raised shares of First of Long Island from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, March 27th. Sandler O’Neill set a $33.00 price target on shares of First of Long Island and gave the company a “buy” rating in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $31.00 price target on shares of First of Long Island in a report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.67.
In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $27.53, for a total value of $82,590.00. Following the completion of the sale, the insider now owns 106,135 shares of the company’s stock, valued at $2,921,896.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark D. Curtis sold 1,800 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $28.13, for a total transaction of $50,634.00. The disclosure for this sale can be found here. In the last three months, insiders sold 9,036 shares of company stock valued at $253,608. 4.64% of the stock is owned by insiders.
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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 privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products.
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