Wellington Management Group LLP acquired a new stake in The First of Long Island Co. (NASDAQ:FLIC – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 420,149 shares of the bank’s stock, valued at approximately $5,407,000. Wellington Management Group LLP owned about 1.86% of First of Long Island at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of First of Long Island by 3.8% in the second quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock valued at $335,000 after purchasing an additional 1,231 shares during the last quarter. FMR LLC grew its holdings in First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after buying an additional 1,950 shares during the last quarter. Sei Investments Co. grew its holdings in First of Long Island by 13.0% during the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock valued at $217,000 after buying an additional 2,500 shares during the last quarter. Empowered Funds LLC increased its position in First of Long Island by 5.4% during the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after buying an additional 2,948 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of First of Long Island by 14.9% in the second quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock worth $295,000 after acquiring an additional 3,810 shares during the last quarter. 48.33% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on First of Long Island in a research report on Saturday. They set a “hold” rating for the company.
First of Long Island Stock Performance
Shares of FLIC opened at $13.80 on Tuesday. The company has a market capitalization of $311.11 million, a price-to-earnings ratio of 15.68 and a beta of 0.71. 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 1 year low of $9.30 and a 1 year high of $15.03. The company’s 50 day simple moving average is $13.67 and its 200 day simple moving average is $12.35.
First of Long Island Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.09%. The ex-dividend date was Friday, October 11th. First of Long Island’s dividend payout ratio (DPR) is 95.45%.
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.
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