Bridgeway Capital Management LLC Increases Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Bridgeway Capital Management LLC raised its stake in The First of Long Island Co. (NASDAQ:FLIC) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,124 shares of the bank’s stock after buying an additional 2,876 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.44% of First of Long Island worth $1,158,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island during the 4th quarter valued at about $126,000. Algert Global LLC acquired a new stake in shares of First of Long Island during the 4th quarter worth approximately $134,000. SG Americas Securities LLC increased its holdings in shares of First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after buying an additional 2,614 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of First of Long Island during the 4th quarter valued at approximately $154,000. Finally, Proficio Capital Partners LLC acquired a new position in First of Long Island in the fourth quarter valued at approximately $165,000. 48.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $16.04 to $16.56 in a report on Tuesday, April 1st. StockNews.com initiated coverage on shares of First of Long Island in a report on Wednesday. They issued a “hold” rating on the stock.

First of Long Island Trading Down 0.6 %

Shares of NASDAQ FLIC opened at $12.31 on Friday. The stock has a fifty day simple moving average of $11.70 and a 200-day simple moving average of $12.57. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $15.03. 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 stock has a market capitalization of $278.64 million, a PE ratio of 16.41 and a beta of 0.85.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Wednesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The business had revenue of $21.54 million for the quarter, compared to analysts’ expectations of $21.89 million. First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 6.82%. First of Long Island’s dividend payout ratio (DPR) is 116.67%.

About First of Long Island

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.