The First Trust Advisors LP Acquires 1,864 Shares of The First of Long Island Corp. (FLIC)

The First Trust Advisors LP Acquires 1,864 Shares of The First of Long Island Corp. (FLIC)

First Trust Advisors LP raised its position in shares of The First of Long Island Corp. (NASDAQ:FLIC) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 15,383 shares of the company’s stock after buying an additional 1,864 shares during the period. First Trust Advisors LP owned 0.10% of The First of Long Island Corp. worth $441,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Emerald Acquisition Ltd. acquired a new stake in shares of The First of Long Island Corp. during the second quarter worth approximately $1,161,000. Swiss National Bank acquired a new stake in shares of The First of Long Island Corp. during the second quarter worth approximately $550,000. Anchor Capital Advisors LLC boosted its stake in shares of The First of Long Island Corp. by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 35,088 shares of the company’s stock worth $1,006,000 after buying an additional 228 shares during the period. California State Teachers Retirement System boosted its stake in shares of The First of Long Island Corp. by 15.3% in the second quarter. California State Teachers Retirement System now owns 29,872 shares of the company’s stock worth $856,000 after buying an additional 3,964 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of The First of Long Island Corp. by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 52,523 shares of the company’s stock worth $1,506,000 after buying an additional 8,451 shares during the period. Institutional investors and hedge funds own 47.90% of the company’s stock.

Shares of The First of Long Island Corp. (NASDAQ:FLIC) traded down 1.32% during midday trading on Thursday, hitting $32.04. 3,442 shares of the company were exchanged. The company has a 50-day moving average price of $32.56 and a 200-day moving average price of $30.53. The First of Long Island Corp. has a 52-week low of $26.14 and a 52-week high of $33.53. The stock has a market capitalization of $502.07 million, a price-to-earnings ratio of 16.42 and a beta of 0.72.

The First of Long Island Corp. (NASDAQ:FLIC) last issued its earnings results on Thursday, July 28th. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The First of Long Island Corp. had a net margin of 26.24% and a return on equity of 10.59%. On average, analysts forecast that The First of Long Island Corp. will post $2.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.21 per share. This is a positive change from The First of Long Island Corp.’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Monday, October 3rd. The First of Long Island Corp.’s payout ratio is presently 43.30%.

A number of brokerages have recently commented on FLIC. Zacks Investment Research upgraded shares of The First of Long Island Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Raymond James Financial Inc. raised shares of The First of Long Island Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a report on Thursday, August 25th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The First of Long Island Corp. from $31.00 to $32.50 and gave the company a “market perform” rating in a report on Wednesday, August 17th.

In other The First of Long Island Corp. news, insider Sallyanne K. Ballweg sold 3,760 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $30.33, for a total transaction of $114,040.80. Following the sale, the insider now directly owns 33,459 shares in the company, valued at approximately $1,014,811.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael N. Vittorio sold 4,066 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $32.75, for a total transaction of $133,161.50. Following the sale, the chief executive officer now owns 66,461 shares in the company, valued at $2,176,597.75. The disclosure for this sale can be found here. Company insiders own 6.18% of the company’s stock.

About The First of Long Island Corp.

The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-in banking, merchant credit card services, and investment management and trust services.

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