Hotchkis & Wiley Capital Management LLC Has $7.10 Million Position in The First of Long Island Co. (NASDAQ:FLIC)

Hotchkis & Wiley Capital Management LLC lessened its holdings in The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551,340 shares of the bank's stock after selling 45,530 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 2.45% of First of Long Island worth $7,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLIC. FMR LLC raised its holdings in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock worth $45,000 after buying an additional 1,950 shares in the last quarter. CWM LLC raised its stake in First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank's stock worth $78,000 after acquiring an additional 5,819 shares in the last quarter. Evoke Wealth LLC acquired a new position in First of Long Island during the second quarter worth $103,000. SG Americas Securities LLC acquired a new stake in shares of First of Long Island in the 3rd quarter valued at $118,000. Finally, Marshall Wace LLP bought a new stake in shares of First of Long Island in the 2nd quarter worth about $209,000. Institutional investors own 48.33% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of First of Long Island in a research report on Thursday, November 28th. They set a "hold" rating for the company.

First of Long Island Price Performance

NASDAQ FLIC traded down $0.26 during trading hours on Thursday, reaching $14.24. 68,406 shares of the company's stock were exchanged, compared to its average volume of 132,818. The firm has a fifty day moving average of $13.48 and a 200-day moving average of $12.12. The First of Long Island Co. has a one year low of $9.30 and a one year high of $15.03. The stock has a market cap of $320.97 million, a PE ratio of 16.48 and a beta of 0.71. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.90%. First of Long Island's dividend payout ratio (DPR) is presently 95.46%.

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.