Cwm LLC Increases Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Cwm LLC lifted its stake in The First of Long Island Co. (NASDAQ:FLIC) by 87.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,668 shares of the bank’s stock after acquiring an additional 6,856 shares during the period. Cwm LLC’s holdings in First of Long Island were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in shares of First of Long Island by 272.6% in 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 last quarter. ProShare Advisors LLC lifted its stake in shares of First of Long Island by 8.2% in the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after purchasing an additional 51,872 shares during the period. American Century Companies Inc. grew its position in shares of First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after purchasing an additional 51,792 shares during the period. Squarepoint Ops LLC acquired a new position in First of Long Island during the second quarter worth about $230,000. Finally, Marshall Wace LLP acquired a new position in First of Long Island in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

Insider Buying and Selling

In other 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 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 approximately $43,853.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.33% of the company’s stock.

First of Long Island Stock Down 0.6 %

Shares of NASDAQ:FLIC opened at $13.06 on Thursday. The firm has a market cap of $294.06 million, a price-to-earnings ratio of 12.09 and a beta of 0.69. 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 First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $13.95. The stock’s 50-day moving average price is $12.82 and its two-hundred day moving average price is $11.40.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm 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 last year, the firm earned $0.31 EPS.

First of Long Island Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio is presently 77.78%.

Wall Street Analyst Weigh In

FLIC has been the subject of several research reports. StockNews.com initiated coverage on First of Long Island in a research report on Saturday, October 19th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price target on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

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, 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.