Two Sigma Investments LP bought a new position in First of Long Island Corp (NASDAQ:FLIC) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,709 shares of the bank’s stock, valued at approximately $186,000.
Other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can purchased a new stake in First of Long Island during the 4th quarter valued at about $77,000. Victory Capital Management Inc. lifted its holdings in shares of First of Long Island by 18.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,958 shares of the bank’s stock valued at $124,000 after buying an additional 788 shares during the period. First Quadrant L P CA bought a new stake in shares of First of Long Island during the 1st quarter valued at about $103,000. BNP Paribas Arbitrage SA boosted its stake in shares of First of Long Island by 25.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,203 shares of the bank’s stock worth $125,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Citigroup Inc. lifted its position in First of Long Island by 48.5% during the first quarter. Citigroup Inc. now owns 7,271 shares of the bank’s stock valued at $126,000 after purchasing an additional 2,375 shares in the last quarter. Institutional investors own 56.58% of the company’s stock.
A number of research analysts recently weighed in on the stock. BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine lowered First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday, April 3rd. Zacks Investment Research cut First of Long Island from a “hold” rating to a “sell” rating in a report on Wednesday, May 27th. TheStreet lowered shares of First of Long Island from a “b-” rating to a “c+” rating in a report on Friday, March 13th. Finally, Piper Sandler upgraded shares of First of Long Island from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $16.00 to $19.00 in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. First of Long Island presently has a consensus rating of “Hold” and an average target price of $17.50.
Shares of FLIC stock opened at $16.34 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $385.82 million, a price-to-earnings ratio of 9.46 and a beta of 0.50. First of Long Island Corp has a 12-month low of $12.15 and a 12-month high of $25.53. The stock’s 50-day moving average price is $15.44 and its 200-day moving average price is $18.94.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, April 30th. The bank reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). First of Long Island had a net margin of 25.99% and a return on equity of 10.84%. The firm had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $27.75 million. As a group, research analysts predict that First of Long Island Corp will post 1.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, July 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Wednesday, July 8th. First of Long Island’s payout ratio is 41.14%.
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, 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 money market products.
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