First of Long Island Corp (NASDAQ:FLIC) Stake Lessened by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC cut its holdings in shares of First of Long Island Corp (NASDAQ:FLIC) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,289 shares of the bank’s stock after selling 1,224 shares during the quarter. Morgan Dempsey Capital Management LLC owned approximately 0.09% of First of Long Island worth $489,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Legal & General Group Plc increased its stake in First of Long Island by 20.4% during the fourth quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after acquiring an additional 817 shares during the last quarter. Acadian Asset Management LLC bought a new stake in First of Long Island during the fourth quarter worth approximately $28,000. Strs Ohio boosted its position in shares of First of Long Island by 2.0% during the fourth quarter. Strs Ohio now owns 136,800 shares of the bank’s stock valued at $2,729,000 after buying an additional 2,732 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of First of Long Island by 4.8% during the third quarter. TIAA CREF Investment Management LLC now owns 77,434 shares of the bank’s stock valued at $1,684,000 after buying an additional 3,524 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of First of Long Island by 425.3% during the first quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock valued at $113,000 after buying an additional 4,159 shares during the period. 54.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FLIC traded up $0.06 during trading hours on Friday, reaching $21.44. The stock had a trading volume of 76,610 shares, compared to its average volume of 48,402. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $532.38 million, a price-to-earnings ratio of 13.15 and a beta of 0.73. First of Long Island Corp has a 52-week low of $17.53 and a 52-week high of $26.80.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Tuesday, April 30th. The bank reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The firm had revenue of $27.85 million during the quarter, compared to analysts’ expectations of $28.65 million. First of Long Island had a net margin of 28.70% and a return on equity of 10.80%. Analysts forecast that First of Long Island Corp will post 1.74 earnings per share for the current year.

FLIC has been the subject of several recent analyst reports. Zacks Investment Research lowered First of Long Island from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. BidaskClub upgraded First of Long Island from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. ValuEngine upgraded First of Long Island from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Finally, Boenning Scattergood initiated coverage on First of Long Island in a research report on Monday, April 1st. They set a “neutral” rating for the company.

In other First of Long Island news, CEO Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $22.60, for a total transaction of $67,800.00. Following the completion of the sale, the chief executive officer now owns 112,679 shares in the company, valued at $2,546,545.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.93% of the stock is currently owned by insiders.

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About First of Long Island

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, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.

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Institutional Ownership by Quarter for First of Long Island (NASDAQ:FLIC)

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