Evoke Wealth LLC Takes Position in The First of Long Island Co. (NASDAQ:FLIC)

Evoke Wealth LLC bought a new position in shares of The First of Long Island Co. (NASDAQ:FLIC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,236 shares of the bank’s stock, valued at approximately $103,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLIC. Webster Bank N. A. bought a new position in shares of First of Long Island during the first quarter worth $28,000. EntryPoint Capital LLC bought a new position in shares of First of Long Island during the 1st quarter valued at about $42,000. CWM LLC grew its position in shares of First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after purchasing an additional 5,819 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of First of Long Island in the first quarter worth about $105,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of First of Long Island in the fourth quarter worth about $144,000. Institutional investors own 48.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.33% of the stock is owned by insiders.

First of Long Island Stock Down 2.5 %

Shares of NASDAQ FLIC opened at $13.17 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $13.95. The firm’s 50-day moving average price is $12.46 and its 200-day moving average price is $11.05. The stock has a market capitalization of $296.54 million, a price-to-earnings ratio of 12.19 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $45.41 million for the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same period in the prior year, the business posted $0.31 earnings per share.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a yield of 6.38%. First of Long Island’s dividend payout ratio is presently 77.78%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com began coverage on First of Long Island in a report on Tuesday, September 17th. They set a “hold” rating for the company. Keefe, Bruyette & Woods raised their target price on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

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.