Credit Industriel ET Commercial Takes $1.18 Million Position in The First of Long Island Co. (NASDAQ:FLIC)

Credit Industriel ET Commercial acquired a new stake in The First of Long Island Co. (NASDAQ:FLIC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 101,009 shares of the bank's stock, valued at approximately $1,180,000. Credit Industriel ET Commercial owned 0.45% of First of Long Island at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hsbc Holdings PLC boosted its stake in First of Long Island by 10.9% during the 4th quarter. Hsbc Holdings PLC now owns 39,096 shares of the bank's stock worth $458,000 after purchasing an additional 3,831 shares during the period. State of Tennessee Department of Treasury purchased a new position in shares of First of Long Island during the fourth quarter worth about $423,000. Dimensional Fund Advisors LP increased its position in First of Long Island by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank's stock valued at $13,485,000 after acquiring an additional 55,710 shares during the period. Barclays PLC raised its stake in First of Long Island by 11.1% during the 4th quarter. Barclays PLC now owns 64,171 shares of the bank's stock valued at $750,000 after acquiring an additional 6,413 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in First of Long Island by 3.6% during the 4th quarter. Renaissance Technologies LLC now owns 616,050 shares of the bank's stock worth $7,195,000 after acquiring an additional 21,200 shares during the period. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

First of Long Island Stock Performance

NASDAQ:FLIC traded up $0.24 during mid-day trading on Monday, reaching $11.70. The stock had a trading volume of 45,862 shares, compared to its average volume of 106,039. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $15.03. The business has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $12.67. The firm has a market capitalization of $264.83 million, a price-to-earnings ratio of 15.60 and a beta of 0.69. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

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 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 firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.18%. The ex-dividend date was Monday, March 24th. First of Long Island's dividend payout ratio (DPR) is currently 112.00%.

Wall Street Analyst Weigh In

FLIC has been the topic of a number of recent research reports. StockNews.com initiated coverage on First of Long Island in a research note on Monday, April 21st. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised shares of First of Long Island from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $16.04 to $16.56 in a research note on Tuesday, April 1st.

First of Long Island Company 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.