Wasatch Advisors Inc. Increases Stake in First of Long Island Corp (FLIC)

Wasatch Advisors Inc. lifted its holdings in First of Long Island Corp (NASDAQ:FLIC) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 669,832 shares of the bank’s stock after purchasing an additional 53,234 shares during the period. Wasatch Advisors Inc. owned about 2.72% of First of Long Island worth $19,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FLIC. SG Americas Securities LLC purchased a new stake in shares of First of Long Island in the 3rd quarter worth approximately $105,000. Nordea Investment Management AB lifted its position in shares of First of Long Island by 32.5% in the 2nd quarter. Nordea Investment Management AB now owns 5,300 shares of the bank’s stock worth $152,000 after purchasing an additional 1,300 shares during the period. Legal & General Group Plc lifted its position in shares of First of Long Island by 12.3% in the 2nd quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock worth $164,000 after purchasing an additional 630 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of First of Long Island in the 2nd quarter worth approximately $204,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of First of Long Island in the 2nd quarter worth approximately $227,000. 53.63% of the stock is owned by hedge funds and other institutional investors.

First of Long Island Corp (NASDAQ:FLIC) opened at $28.60 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $703.22, a P/E ratio of 19.86 and a beta of 0.77. First of Long Island Corp has a 52 week low of $25.60 and a 52 week high of $33.50.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Monday, October 30th. The bank reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $26.87 million during the quarter, compared to analyst estimates of $27.05 million. First of Long Island had a net margin of 28.36% and a return on equity of 10.81%. analysts forecast that First of Long Island Corp will post 1.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Friday, December 29th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.10%. First of Long Island’s dividend payout ratio (DPR) is presently 41.67%.

In other First of Long Island news, Director Milbrey Rennie Taylor sold 2,079 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $30.11, for a total transaction of $62,598.69. Following the transaction, the director now owns 20,001 shares in the company, valued at approximately $602,230.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Kick sold 3,975 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $29.00, for a total transaction of $115,275.00. Following the transaction, the insider now owns 89,310 shares in the company, valued at approximately $2,589,990. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,434 shares of company stock valued at $661,149. 4.83% of the stock is currently owned by company insiders.

FLIC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of First of Long Island from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Thursday, September 28th. ValuEngine lowered shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BidaskClub lowered shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Finally, Sandler O’Neill set a $33.00 price objective on shares of First of Long Island and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. First of Long Island has an average rating of “Hold” and a consensus target price of $31.33.

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First of Long Island Company Profile

The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.

Institutional Ownership by Quarter for First of Long Island (NASDAQ:FLIC)

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