State Street Corp cut its position in First of Long Island Corp (NASDAQ:FLIC) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,177 shares of the bank’s stock after selling 683 shares during the quarter. State Street Corp’s holdings in First of Long Island were worth $8,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Royal Bank of Canada raised its position in First of Long Island by 4,842.0% in the 1st quarter. Royal Bank of Canada now owns 142,180 shares of the bank’s stock worth $2,466,000 after purchasing an additional 139,303 shares during the period. EJF Capital LLC bought a new stake in shares of First of Long Island in the 1st quarter valued at about $970,000. Wedge Capital Management L L P NC lifted its stake in shares of First of Long Island by 18.0% in the 1st quarter. Wedge Capital Management L L P NC now owns 347,790 shares of the bank’s stock valued at $6,034,000 after acquiring an additional 52,991 shares during the last quarter. FMR LLC lifted its stake in shares of First of Long Island by 292,187.5% in the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock valued at $1,025,000 after acquiring an additional 46,750 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of First of Long Island by 56.8% in the 1st quarter. Acadian Asset Management LLC now owns 84,526 shares of the bank’s stock valued at $1,467,000 after acquiring an additional 30,625 shares during the last quarter. 56.54% of the stock is currently owned by hedge funds and other institutional investors.
In other First of Long Island news, Director Milbrey Rennie Taylor sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $17.55, for a total transaction of $35,100.00. Insiders have sold a total of 4,000 shares of company stock worth $69,280 in the last quarter. Company insiders own 5.35% of the company’s stock.
First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, July 30th. The bank reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The business had revenue of $28.68 million during the quarter, compared to analyst estimates of $27.95 million. First of Long Island had a return on equity of 10.89% and a net margin of 26.49%. As a group, sell-side analysts expect that First of Long Island Corp will post 1.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, July 9th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. First of Long Island’s dividend payout ratio (DPR) is 41.14%.
A number of equities research analysts have recently weighed in on FLIC shares. Piper Sandler raised First of Long Island from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $16.00 to $19.00 in a research note on Tuesday, May 5th. Zacks Investment Research lowered First of Long Island from a “buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, BidaskClub lowered First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday, July 10th. Two investment 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. The company currently has an average rating of “Hold” and a consensus target price of $18.00.
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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