Wellington Management Group LLP Buys New Stake in The First of Long Island Co. (NASDAQ:FLIC)

Wellington Management Group LLP purchased a new position in The First of Long Island Co. (NASDAQ:FLIC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 420,149 shares of the bank's stock, valued at approximately $5,407,000. Wellington Management Group LLP owned approximately 1.86% of First of Long Island at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock worth $45,000 after purchasing an additional 1,950 shares during the period. CWM LLC lifted its stake in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank's stock worth $78,000 after purchasing an additional 5,819 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of First of Long Island during the second quarter valued at approximately $103,000. SG Americas Securities LLC bought a new position in shares of First of Long Island during the third quarter valued at approximately $118,000. Finally, Marshall Wace LLP purchased a new stake in shares of First of Long Island in the second quarter worth approximately $209,000. 48.33% of the stock is owned by institutional investors.

First of Long Island Stock Down 2.9 %

NASDAQ:FLIC traded down $0.40 during midday trading on Tuesday, reaching $13.40. 80,819 shares of the stock traded hands, compared to its average volume of 131,179. The business has a 50-day moving average of $13.67 and a two-hundred day moving average of $12.35. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $15.03. The stock has a market capitalization of $302.09 million, a PE ratio of 15.24 and a beta of 0.71.

First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island's dividend payout ratio (DPR) is presently 95.45%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of First of Long Island in a research note on Saturday. They issued 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.