Principal Financial Group Inc. reduced its position in First of Long Island Corp (NASDAQ:FLIC) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,788 shares of the bank’s stock after selling 20,328 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of First of Long Island worth $4,135,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Boston Partners lifted its position in First of Long Island by 74.3% during the 3rd quarter. Boston Partners now owns 206,701 shares of the bank’s stock worth $6,294,000 after acquiring an additional 88,100 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in First of Long Island during the 3rd quarter worth approximately $6,924,000. Wasatch Advisors Inc. increased its holdings in First of Long Island by 11.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 548,336 shares of the bank’s stock worth $15,682,000 after purchasing an additional 54,423 shares during the last quarter. State Street Corp increased its holdings in First of Long Island by 6.4% during the 2nd quarter. State Street Corp now owns 402,592 shares of the bank’s stock worth $11,513,000 after purchasing an additional 24,051 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in First of Long Island by 17.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock worth $21,198,000 after purchasing an additional 111,227 shares during the last quarter. 53.63% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on FLIC. Zacks Investment Research upgraded First of Long Island from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, September 28th. ValuEngine downgraded First of Long Island from a “buy” rating to a “hold” rating in a report on Monday, October 2nd.
First of Long Island Corp (FLIC) traded down $0.40 during mid-day trading on Tuesday, reaching $28.10. The company’s stock had a trading volume of 63,823 shares, compared to its average volume of 49,200. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.24. First of Long Island Corp has a 52 week low of $25.60 and a 52 week high of $33.50. The stock has a market cap of $701.99, a P/E ratio of 19.51 and a beta of 0.77.
First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Monday, October 30th. The bank reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. First of Long Island had a return on equity of 10.81% and a net margin of 28.36%. The business had revenue of $26.87 million during the quarter, compared to the consensus estimate of $27.05 million. equities research analysts anticipate that First of Long Island Corp will post 1.5 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th will be issued a $0.15 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.14%. First of Long Island’s dividend payout ratio (DPR) is 41.67%.
In other news, EVP Donald L. Manfredonia sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $29.17, for a total value of $29,170.00. Following the completion of the sale, the executive vice president now directly owns 108,500 shares in the company, valued at approximately $3,164,945. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark D. Curtis sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $29.38, for a total value of $176,280.00. Following the completion of the sale, the insider now owns 41,607 shares of the company’s stock, valued at $1,222,413.66. The disclosure for this sale can be found here. Insiders sold a total of 22,434 shares of company stock valued at $661,149 over the last quarter. Company insiders own 4.83% of the company’s stock.
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First of Long Island Profile
The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.
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