Thrivent Financial for Lutherans Reduces Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Thrivent Financial for Lutherans reduced its stake in The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 28.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,009 shares of the bank's stock after selling 21,766 shares during the period. Thrivent Financial for Lutherans owned 0.24% of First of Long Island worth $631,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of First of Long Island during the third quarter worth about $5,407,000. ABC Arbitrage SA purchased a new stake in shares of First of Long Island during the 4th quarter valued at $4,545,000. Bank of New York Mellon Corp raised its position in First of Long Island by 27.9% in the fourth quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank's stock worth $2,399,000 after acquiring an additional 44,857 shares during the period. Barclays PLC raised its holdings in shares of First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock worth $743,000 after purchasing an additional 24,399 shares during the period. Finally, State Street Corp grew its holdings in First of Long Island by 3.4% during the third 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. 48.33% of the stock is owned by institutional investors and hedge funds.

First of Long Island Price Performance

NASDAQ FLIC traded down $0.12 during trading hours on Friday, reaching $11.00. 89,602 shares of the stock traded hands, compared to its average volume of 108,374. The company has a market cap of $248.99 million, a price-to-earnings ratio of 14.67 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The First of Long Island Co. has a 1 year low of $9.30 and a 1 year high of $15.03. The stock has a 50 day simple moving average of $12.69 and a two-hundred day simple moving average of $12.88.

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First of Long Island (NASDAQ:FLIC - Get Free Report) last released its 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 company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 7.64%. First of Long Island's dividend payout ratio is currently 112.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on FLIC. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $16.04 to $16.56 in a research report on Tuesday. StockNews.com began coverage on First of Long Island in a research note on Friday, March 28th. They set a "hold" rating for the company.

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.