Advisor Group Holdings Inc. grew its position in shares of The First of Long Island Co. (NASDAQ:FLIC) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,511 shares of the bank’s stock after purchasing an additional 899 shares during the period. Advisor Group Holdings Inc.’s holdings in The First of Long Island were worth $123,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in The First of Long Island by 292,187.5% during the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock worth $1,025,000 after acquiring an additional 46,750 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of The First of Long Island by 19.1% in the first quarter. JPMorgan Chase & Co. now owns 44,005 shares of the bank’s stock valued at $764,000 after purchasing an additional 7,070 shares in the last quarter. Citigroup Inc. increased its stake in The First of Long Island by 48.5% during the 1st quarter. Citigroup Inc. now owns 7,271 shares of the bank’s stock worth $126,000 after buying an additional 2,375 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in The 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 buying an additional 1,482 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in The First of Long Island by 4.3% in the 1st quarter. Nuveen Asset Management LLC now owns 116,564 shares of the bank’s stock valued at $2,023,000 after buying an additional 4,817 shares during the period. Institutional investors and hedge funds own 58.25% of the company’s stock.
A number of research firms recently issued reports on FLIC. BidaskClub upgraded The First of Long Island from a “sell” rating to a “hold” rating in a report on Thursday, October 1st. Zacks Investment Research downgraded shares of The First of Long Island from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 30th. Finally, Piper Sandler lowered their target price on shares of The First of Long Island from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, September 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.50.
NASDAQ:FLIC traded down $0.28 during midday trading on Friday, hitting $16.27. 42,482 shares of the company were exchanged, compared to its average volume of 77,071. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.13. The First of Long Island Co. has a fifty-two week low of $12.15 and a fifty-two week high of $25.53. The company has a market capitalization of $388.13 million, a PE ratio of 9.86 and a beta of 0.50. The company has a fifty day simple moving average of $15.29 and a 200 day simple moving average of $15.28.
The First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.12. The company had revenue of $28.68 million during the quarter, compared to analysts’ expectations of $27.95 million. The First of Long Island had a return on equity of 10.85% and a net margin of 26.49%. As a group, equities research analysts expect that The First of Long Island Co. will post 1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Tuesday, October 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 9th. This is a positive change from The First of Long Island’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 4.67%. The First of Long Island’s payout ratio is currently 41.14%.
The 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. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts, interest on lawyer accounts, 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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