ABC Arbitrage SA Acquires Shares of 389,113 The First of Long Island Co. (NASDAQ:FLIC)

ABC Arbitrage SA purchased a new position in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 389,113 shares of the bank's stock, valued at approximately $4,545,000. ABC Arbitrage SA owned 1.73% of First of Long Island as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. FMR LLC raised its holdings in First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock worth $45,000 after purchasing an additional 1,950 shares during the last quarter. SG Americas Securities LLC bought a new position in First of Long Island during the third quarter worth $118,000. Janney Montgomery Scott LLC acquired a new position in First of Long Island in the fourth quarter valued at $126,000. CWM LLC boosted its position in First of Long Island by 87.8% during 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. Finally, Quest Partners LLC acquired a new stake in First of Long Island during the 3rd quarter worth about $212,000. Institutional investors own 48.33% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on First of Long Island in a research note on Sunday. They issued a "hold" rating on the stock.

First of Long Island Trading Down 1.8 %

Shares of FLIC stock traded down $0.25 during trading hours on Wednesday, hitting $13.58. 56,028 shares of the company were exchanged, compared to its average volume of 93,257. The company has a 50 day simple moving average of $12.52 and a two-hundred day simple moving average of $12.90. The firm has a market cap of $306.09 million, a P/E ratio of 18.11 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The First of Long Island Co. has a fifty-two week low of $9.30 and a fifty-two week high of $15.03.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted 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 return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were issued a $0.21 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 6.19%. First of Long Island's payout ratio is currently 112.00%.

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.