American Century Companies Inc. Acquires 49,798 Shares of The First of Long Island Co. (NASDAQ:FLIC)

American Century Companies Inc. increased its position in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,701 shares of the bank's stock after purchasing an additional 49,798 shares during the period. American Century Companies Inc. owned about 1.97% of First of Long Island worth $5,182,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLIC. State Street Corp grew its stake in shares of First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank's stock valued at $6,509,000 after purchasing an additional 16,456 shares during the period. Geode Capital Management LLC grew its position in First of Long Island by 3.0% in the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank's stock valued at $6,447,000 after acquiring an additional 14,736 shares during the period. Wellington Management Group LLP acquired a new position in First of Long Island during the third quarter worth $5,407,000. ABC Arbitrage SA bought a new position in shares of First of Long Island during the fourth quarter valued at $4,545,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of First of Long Island by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank's stock valued at $2,399,000 after purchasing an additional 44,857 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on FLIC. Keefe, Bruyette & Woods raised shares of First of Long Island from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $16.04 to $16.56 in a report on Tuesday, April 1st. StockNews.com started coverage on shares of First of Long Island in a research note on Saturday. They issued a "hold" rating for the company.

First of Long Island Price Performance

Shares of NASDAQ:FLIC traded up $0.68 during midday trading on Wednesday, reaching $11.48. The company's stock had a trading volume of 131,355 shares, compared to its average volume of 108,349. The business's fifty day simple moving average is $12.55 and its 200-day simple moving average is $12.81. 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 First of Long Island Co. has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The company has a market capitalization of $259.85 million, a P/E ratio of 15.31 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.32%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island's dividend payout ratio (DPR) is presently 112.00%.

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.