Marshall Wace LLP Makes New Investment in The First of Long Island Co. (NASDAQ:FLIC)

Marshall Wace LLP acquired a new position in The First of Long Island Co. (NASDAQ:FLIC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,830 shares of the bank’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLIC. Quadrature Capital Ltd purchased a new position in shares of First of Long Island in the 4th quarter worth $144,000. Webster Bank N. A. purchased a new position in shares of First of Long Island in the 1st quarter worth $28,000. BNP Paribas Financial Markets grew its stake in shares of First of Long Island by 57.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after buying an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of First of Long Island in the 1st quarter worth $132,000. Finally, John G Ullman & Associates Inc. purchased a new position in shares of First of Long Island in the 1st quarter worth $226,000. 48.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on FLIC. StockNews.com initiated coverage on shares of First of Long Island in a research note on Friday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price target on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Price Performance

FLIC stock opened at $13.19 on Friday. The First of Long Island Co. has a 12 month low of $9.30 and a 12 month high of $13.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $12.57 and a 200 day moving average price of $11.26. The stock has a market cap of $296.99 million, a PE ratio of 12.21 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The firm had revenue of $45.41 million during the quarter, compared to analysts’ expectations of $20.90 million. During the same period in the previous year, the company earned $0.31 EPS.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be given a $0.21 dividend. The ex-dividend date is Friday, October 11th. This represents a $0.84 annualized dividend and a yield of 6.37%. First of Long Island’s dividend payout ratio (DPR) is 77.78%.

Insider Buying and Selling at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.33% of the stock is owned by corporate insiders.

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.