Thrivent Financial for Lutherans Lowers Stake in The First of Long Island Co. (NASDAQ:FLIC)

Thrivent Financial for Lutherans lessened its position in The First of Long Island Co. (NASDAQ:FLIC) by 28.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,009 shares of the bank’s stock after selling 21,766 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of First of Long Island worth $631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FLIC. State Street Corp raised its holdings in First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after acquiring an additional 16,456 shares during the last quarter. Geode Capital Management LLC increased its stake in First of Long Island by 3.0% in the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock valued at $6,447,000 after purchasing an additional 14,736 shares during the last quarter. Wellington Management Group LLP acquired a new position in First of Long Island in the third quarter valued at $5,407,000. ABC Arbitrage SA purchased a new position in First of Long Island during the fourth quarter worth about $4,545,000. Finally, Bank of New York Mellon Corp boosted its stake in First of Long Island by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock worth $2,399,000 after buying an additional 44,857 shares during the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FLIC shares. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $16.04 to $16.56 in a report on Tuesday. StockNews.com started coverage on shares of First of Long Island in a research note on Friday, March 28th. They set a “hold” rating on the stock.

First of Long Island Stock Performance

Shares of FLIC stock opened at $12.29 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $278.18 million, a PE ratio of 16.39 and a beta of 0.75. The company’s fifty day simple moving average is $12.72 and its 200-day simple moving average is $12.91. The First of Long Island Co. has a 52 week low of $9.30 and a 52 week high of $15.03.

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

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th will be paid a $0.21 dividend. The ex-dividend date is Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 6.83%. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

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.