JPMorgan Chase & Co. Grows Position in The First of Long Island Co. (NASDAQ:FLIC)

JPMorgan Chase & Co. grew its stake in The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 58.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,475 shares of the bank's stock after buying an additional 31,161 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.37% of First of Long Island worth $987,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FLIC. State Street Corp increased its holdings 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 worth $6,509,000 after acquiring an additional 16,456 shares in the last quarter. Barclays PLC increased its stake in shares of First of Long Island by 73.1% in the third quarter. Barclays PLC now owns 57,758 shares of the bank's stock worth $743,000 after purchasing an additional 24,399 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First of Long Island by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 500,881 shares of the bank's stock valued at $6,447,000 after purchasing an additional 14,736 shares during the period. SG Americas Securities LLC lifted its stake in shares of First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank's stock valued at $138,000 after buying an additional 2,614 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of First of Long Island during the 4th quarter valued at $126,000. Institutional investors own 48.33% of the company's stock.

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $11.46 on Monday. The firm has a market cap of $259.40 million, a price-to-earnings ratio of 15.28 and a beta of 0.69. The firm has a fifty day moving average price of $11.92 and a 200 day moving average price of $12.67. 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 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 issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date was Monday, March 24th. First of Long Island's payout ratio is 112.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised First of Long Island from a "market perform" rating to an "outperform" rating and raised their price target for the company from $16.04 to $16.56 in a report on Tuesday, April 1st. StockNews.com began coverage on First of Long Island in a research note on Monday, April 21st. They set a "hold" rating on the stock.

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.

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