Bank of New York Mellon Corp Has $2.40 Million Stake in The First of Long Island Co. (NASDAQ:FLIC)

Bank of New York Mellon Corp raised its position in The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,435 shares of the bank's stock after acquiring an additional 44,857 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.91% of First of Long Island worth $2,399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings 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 purchasing an additional 1,950 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island during the 4th quarter worth approximately $126,000. SG Americas Securities LLC raised its stake in First of Long Island by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank's stock valued at $138,000 after acquiring an additional 2,614 shares during the period. Quest Partners LLC acquired a new stake in First of Long Island during the 3rd quarter valued at $212,000. Finally, Empowered Funds LLC boosted its position in First of Long Island by 5.0% during the fourth quarter. Empowered Funds LLC now owns 60,924 shares of the bank's stock worth $712,000 after purchasing an additional 2,876 shares during the period. Institutional investors own 48.33% of the company's stock.

First of Long Island Stock Performance

Shares of First of Long Island stock traded down $0.22 on Tuesday, hitting $12.06. The stock had a trading volume of 116,031 shares, compared to its average volume of 106,973. The stock has a market cap of $272.98 million, a price-to-earnings ratio of 16.08 and a beta of 0.75. The business's 50 day moving average is $12.64 and its two-hundred day moving average is $12.92. The company has a quick ratio of 0.98, a current 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.

Remove Ads

First of Long Island (NASDAQ:FLIC - Get Free Report) last announced its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 6.97%. First of Long Island's dividend payout ratio is presently 112.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of First of Long Island in a research note on Thursday, March 20th. They set a "hold" rating for the company.

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.