Thrivent Financial for Lutherans Has $631,000 Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Thrivent Financial for Lutherans lessened its holdings in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities & 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 about 0.24% of First of Long Island worth $631,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in First of Long Island in the 3rd quarter valued at $5,407,000. ABC Arbitrage SA bought a new position in shares of First of Long Island in the fourth quarter worth $4,545,000. Bank of New York Mellon Corp raised its stake 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 valued at $2,399,000 after purchasing an additional 44,857 shares in the last quarter. Barclays PLC lifted its position in First of Long Island by 73.1% during 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 during the period. Finally, State Street Corp grew its stake 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 worth $6,509,000 after buying an additional 16,456 shares in the last quarter. 48.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FLIC shares. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $16.04 to $16.56 in a research report on Tuesday, April 1st. StockNews.com initiated coverage on shares of First of Long Island in a research report on Saturday. They set a "hold" rating for the company.

First of Long Island Price Performance

Shares of FLIC stock traded up $0.06 on Monday, hitting $11.06. 121,738 shares of the company's stock were exchanged, compared to its average volume of 108,398. The First of Long Island Co. has a 12 month low of $9.30 and a 12 month high of $15.03. 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 company has a 50 day moving average of $12.66 and a 200 day moving average of $12.86. The stock has a market cap of $250.34 million, a P/E ratio of 14.75 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its quarterly earnings results 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.59%. First of Long Island's payout ratio is presently 112.00%.

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.