Dimensional Fund Advisors LP Purchases 61,242 Shares of First of Long Island Corp (NASDAQ:FLIC)

Dimensional Fund Advisors LP lifted its position in shares of First of Long Island Corp (NASDAQ:FLIC) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 732,545 shares of the bank’s stock after buying an additional 61,242 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.87% of First of Long Island worth $14,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in First of Long Island in the 4th quarter valued at about $28,000. Legal & General Group Plc grew its position in First of Long Island by 20.4% in the 4th quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock valued at $97,000 after buying an additional 817 shares in the last quarter. Advisor Group Inc. grew its position in First of Long Island by 659.2% in the 4th quarter. Advisor Group Inc. now owns 7,038 shares of the bank’s stock valued at $141,000 after buying an additional 6,111 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in First of Long Island by 344.2% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,853 shares of the bank’s stock valued at $157,000 after buying an additional 6,085 shares in the last quarter. Finally, Rhumbline Advisers grew its position in First of Long Island by 43.9% in the 4th quarter. Rhumbline Advisers now owns 34,336 shares of the bank’s stock valued at $685,000 after buying an additional 10,474 shares in the last quarter. Institutional investors and hedge funds own 54.54% of the company’s stock.

A number of equities analysts recently issued reports on FLIC shares. BidaskClub upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Zacks Investment Research raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. ValuEngine lowered shares of First of Long Island from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, Boenning Scattergood began coverage on shares of First of Long Island in a research report on Monday, April 1st. They issued a “neutral” rating for the company.

In other First of Long Island news, CEO Michael N. Vittorio sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 112,679 shares in the company, valued at $2,546,545.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.93% of the company’s stock.

Shares of NASDAQ FLIC traded up $1.10 during mid-day trading on Monday, reaching $21.18. The company had a trading volume of 156,200 shares, compared to its average volume of 67,844. The business has a fifty day simple moving average of $21.65. First of Long Island Corp has a 12-month low of $17.53 and a 12-month high of $25.85. The stock has a market capitalization of $511.20 million, a P/E ratio of 12.99 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.99.

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

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, 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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