First of Long Island Corp (FLIC) Holdings Lifted by Wasatch Advisors Inc.

Wasatch Advisors Inc. raised its stake in shares of First of Long Island Corp (NASDAQ:FLIC) by 8.6% during the fourth quarter, HoldingsChannel reports. The firm owned 669,832 shares of the bank’s stock after purchasing an additional 53,234 shares during the quarter. Wasatch Advisors Inc.’s holdings in First of Long Island were worth $19,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Neuberger Berman Group LLC increased its stake in First of Long Island by 0.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 18,909 shares of the bank’s stock valued at $541,000 after purchasing an additional 64 shares in the last quarter. Legal & General Group Plc increased its stake in First of Long Island by 12.3% during the 2nd quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock valued at $164,000 after purchasing an additional 630 shares in the last quarter. Wells Fargo & Company MN increased its stake in First of Long Island by 1.4% during the 2nd quarter. Wells Fargo & Company MN now owns 53,590 shares of the bank’s stock valued at $1,533,000 after purchasing an additional 734 shares in the last quarter. Nordea Investment Management AB increased its stake in First of Long Island by 32.5% during the 2nd quarter. Nordea Investment Management AB now owns 5,300 shares of the bank’s stock valued at $152,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in First of Long Island by 17.3% during the 2nd quarter. Voya Investment Management LLC now owns 11,021 shares of the bank’s stock valued at $315,000 after purchasing an additional 1,628 shares in the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.

In related news, insider Mark D. Curtis sold 6,000 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $29.38, for a total transaction of $176,280.00. Following the sale, the insider now directly owns 41,607 shares of the company’s stock, valued at $1,222,413.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter C. Teagle III sold 5,630 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $29.75, for a total transaction of $167,492.50. Following the sale, the director now directly owns 129,810 shares in the company, valued at $3,861,847.50. The disclosure for this sale can be found here. Insiders sold 22,434 shares of company stock worth $661,149 in the last quarter. Company insiders own 4.83% of the company’s stock.

A number of brokerages have issued reports on FLIC. Zacks Investment Research upgraded shares of First of Long Island from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.33.

Shares of First of Long Island Corp (NASDAQ:FLIC) opened at $28.60 on Wednesday. The firm has a market cap of $703.22, a price-to-earnings 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. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.24.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Monday, October 30th. The bank reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. The firm had revenue of $26.87 million for 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%. research analysts forecast that First of Long Island Corp will post 1.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were paid a $0.15 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.10%. First of Long Island’s payout ratio is currently 41.67%.

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About First of Long Island

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.

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

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