ABC Arbitrage SA Purchases New Shares in The First of Long Island Co. (NASDAQ:FLIC)

ABC Arbitrage SA acquired a new position in The First of Long Island Co. (NASDAQ:FLIC) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 389,113 shares of the bank’s stock, valued at approximately $4,545,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC bought a new position in First of Long Island in the 3rd quarter valued at about $118,000. CWM LLC increased its stake in First of Long Island by 87.8% in the third quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after acquiring an additional 6,856 shares during the last quarter. Empowered Funds LLC raised its position in First of Long Island by 5.4% during the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares in the last quarter. Quest Partners LLC bought a new stake in First of Long Island during the third quarter worth $212,000. Finally, FMR LLC boosted its holdings in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $13.64 on Friday. The First of Long Island Co. has a one year low of $9.30 and a one year high of $15.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $307.45 million, a price-to-earnings ratio of 18.19 and a beta of 0.75. The firm has a 50 day simple moving average of $12.53 and a 200 day simple moving average of $12.88.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 6.16%. The ex-dividend date was Tuesday, December 31st. First of Long Island’s dividend payout ratio is currently 112.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on First of Long Island in a research report on Saturday, February 8th. They set a “hold” rating for the company.

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.