Bridgeway Capital Management LLC Grows Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Bridgeway Capital Management LLC boosted its holdings in The First of Long Island Co. (NASDAQ:FLIC) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,124 shares of the bank’s stock after buying an additional 2,876 shares during the quarter. Bridgeway Capital Management LLC’s holdings in First of Long Island were worth $1,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLIC. Barclays PLC increased its holdings in shares of First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after acquiring an additional 24,399 shares during the last quarter. Franklin Resources Inc. purchased a new position in First of Long Island in the fourth quarter valued at approximately $169,000. Proficio Capital Partners LLC acquired a new stake in First of Long Island during the fourth quarter worth approximately $165,000. Empowered Funds LLC lifted its position in shares of First of Long Island by 5.0% during the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock worth $712,000 after buying an additional 2,876 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of First of Long Island by 113.8% in the 4th quarter. Wells Fargo & Company MN now owns 23,322 shares of the bank’s stock valued at $272,000 after buying an additional 12,415 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

First of Long Island Stock Performance

Shares of FLIC opened at $12.31 on Friday. The company’s 50 day simple moving average is $11.70 and its 200-day simple moving average is $12.57. The firm has a market cap of $278.64 million, a PE ratio of 16.41 and a beta of 0.85. The First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Wednesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%. The business had revenue of $21.54 million for the quarter, compared to analysts’ expectations of $21.89 million.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is presently 116.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of First of Long Island in a research note on Wednesday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods upgraded First of Long Island from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $16.04 to $16.56 in a research 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.