Charles Schwab Investment Management Inc. Raises Stake in The First of Long Island Co. (NASDAQ:FLIC)

Charles Schwab Investment Management Inc. grew its stake in shares of The First of Long Island Co. (NASDAQ:FLIC) by 0.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 174,109 shares of the bank’s stock after purchasing an additional 1,271 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in First of Long Island were worth $2,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FLIC. Wellington Management Group LLP bought a new stake in First of Long Island in the 3rd quarter worth $5,407,000. ABC Arbitrage SA purchased a new stake in First of Long Island in the fourth quarter worth $4,545,000. Bank of New York Mellon Corp boosted its holdings in shares of First of Long Island by 27.9% during the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock valued at $2,399,000 after buying an additional 44,857 shares in the last quarter. Barclays PLC grew its position 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 buying an additional 24,399 shares during the period. Finally, State Street Corp increased its stake in shares of 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. 48.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of First of Long Island in a report on Friday. They issued a “hold” rating on the stock.

First of Long Island Trading Down 1.8 %

First of Long Island stock opened at $12.29 on Friday. 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 market capitalization of $278.18 million, a price-to-earnings ratio of 16.39 and a beta of 0.75. The business’s fifty day simple moving average is $12.69 and its two-hundred day simple moving average is $12.91. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is currently 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.