Arrowstreet Capital Limited Partnership Acquires 38,714 Shares of The First of Long Island Co. (NASDAQ:FLIC)

Arrowstreet Capital Limited Partnership lifted its stake in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 275,786 shares of the bank's stock after buying an additional 38,714 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.22% of First of Long Island worth $3,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC lifted its position in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank's stock worth $45,000 after acquiring an additional 1,950 shares during the last quarter. Stifel Financial Corp lifted its holdings in First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank's stock worth $746,000 after purchasing an additional 4,716 shares during the last quarter. State Street Corp boosted its stake in 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. Wellington Management Group LLP acquired a new position in First of Long Island in the 3rd quarter valued at $5,407,000. Finally, Barclays PLC grew its holdings in First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock valued at $743,000 after buying an additional 24,399 shares in the last quarter. Institutional investors own 48.33% of the company's stock.

Analyst Ratings Changes

FLIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised shares of First of Long Island from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $16.04 to $16.56 in a research report on Tuesday, April 1st. StockNews.com started coverage on shares of First of Long Island in a report on Sunday. They issued a "hold" rating for the company.

First of Long Island Price Performance

NASDAQ FLIC traded up $0.31 during midday trading on Tuesday, hitting $11.08. The company had a trading volume of 9,921 shares, compared to its average volume of 107,595. The firm has a 50-day moving average price of $12.39 and a 200-day moving average price of $12.77. The company has a market capitalization of $250.77 million, a PE ratio of 14.77 and a beta of 0.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $15.03.

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 return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 7.58%. First of Long Island's dividend payout ratio is 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.