OMERS ADMINISTRATION Corp Lowers Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

OMERS ADMINISTRATION Corp reduced its position in The First of Long Island Co. (NASDAQ:FLIC) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 152,629 shares of the bank’s stock after selling 31,848 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in First of Long Island were worth $1,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in First of Long Island during the 4th quarter worth approximately $126,000. Algert Global LLC purchased a new stake in shares of First of Long Island during the fourth quarter worth $134,000. SG Americas Securities LLC raised its stake in shares of First of Long Island by 28.4% in the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,614 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of First of Long Island in the fourth quarter valued at $154,000. Finally, Proficio Capital Partners LLC purchased a new position in First of Long Island in the fourth quarter valued at $165,000. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLIC. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st. StockNews.com started coverage on shares of First of Long Island in a research report on Wednesday, May 7th. They set a “hold” rating for the company.

First of Long Island Stock Up 0.9%

First of Long Island stock opened at $12.68 on Friday. The stock has a 50 day moving average of $11.74 and a two-hundred day moving average of $12.57. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $15.03. The stock has a market capitalization of $287.58 million, a price-to-earnings ratio of 16.91 and a beta of 0.85. 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 announced 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 analyst estimates of $21.89 million.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Monday, March 24th. First of Long Island’s payout ratio is currently 116.67%.

First of Long Island 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.