Cwm LLC Purchases 6,856 Shares of The First of Long Island Co. (NASDAQ:FLIC)

Cwm LLC lifted its stake in The First of Long Island Co. (NASDAQ:FLIC) by 87.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,668 shares of the bank’s stock after buying an additional 6,856 shares during the period. Cwm LLC owned approximately 0.07% of First of Long Island worth $189,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after acquiring an additional 8,109 shares in the last quarter. ProShare Advisors LLC boosted its position in First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares in the last quarter. Renaissance Technologies LLC boosted its position in First of Long Island by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after acquiring an additional 10,400 shares in the last quarter. AQR Capital Management LLC boosted its position in First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares in the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FLIC. Keefe, Bruyette & Woods boosted their price target on First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com began coverage on First of Long Island in a research report on Saturday, October 19th. They issued a “hold” rating on the stock.

First of Long Island Stock Performance

Shares of FLIC opened at $13.06 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average price is $12.82 and its 200-day moving average price is $11.40. The First of Long Island Co. has a 52 week low of $9.30 and a 52 week high of $13.95. The stock has a market cap of $294.06 million, a P/E ratio of 12.09 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $45.41 million for the quarter, compared to analysts’ expectations 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 firm posted $0.31 EPS.

First of Long Island Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a yield of 6.43%. First of Long Island’s dividend payout ratio (DPR) is presently 77.78%.

Insider Activity at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.33% of the stock is currently owned by insiders.

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.