Cubist Systematic Strategies LLC Sells 37,361 Shares of The First of Long Island Co. (NASDAQ:FLIC)

Cubist Systematic Strategies LLC reduced its stake in The First of Long Island Co. (NASDAQ:FLIC) by 62.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,334 shares of the bank’s stock after selling 37,361 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.10% of First of Long Island worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in First of Long Island by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after purchasing an additional 8,109 shares during the last quarter. ProShare Advisors LLC boosted its holdings in First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares during the period. Renaissance Technologies LLC boosted its holdings in First of Long Island by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after acquiring an additional 10,400 shares during the period. AQR Capital Management LLC boosted its holdings in First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares during the period. Finally, American Century Companies Inc. boosted its holdings in First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the period. 48.33% of the stock is currently owned by institutional investors.

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 company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLIC. StockNews.com began coverage on First of Long Island in a report on Friday. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their target price on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First of Long Island Trading Up 0.9 %

Shares of FLIC stock opened at $13.31 on Tuesday. The stock has a market capitalization of $299.69 million, a PE ratio of 12.32 and a beta of 0.69. The First of Long Island Co. has a 1-year low of $9.30 and a 1-year high of $13.95. The business has a 50-day moving average of $12.57 and a 200 day moving average of $11.26. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97.

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, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $45.41 million during the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same quarter in the prior year, the company posted $0.31 EPS.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 11th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Friday, October 11th. First of Long Island’s payout ratio is 77.78%.

About First of Long Island

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.