Schwab Charles Investment Management Inc. Has $3.60 Million Holdings in First of Long Island Corp (FLIC)

Schwab Charles Investment Management Inc. raised its holdings in shares of First of Long Island Corp (NASDAQ:FLIC) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,273 shares of the bank’s stock after acquiring an additional 6,145 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in First of Long Island were worth $3,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of FLIC. Franklin Resources Inc. raised its holdings in First of Long Island by 73.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,617,800 shares of the bank’s stock valued at $46,269,000 after acquiring an additional 683,135 shares during the period. Wedge Capital Management L L P NC bought a new stake in First of Long Island during the 3rd quarter valued at $6,924,000. Goldman Sachs Group Inc. raised its holdings in First of Long Island by 17.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 741,182 shares of the bank’s stock valued at $21,198,000 after acquiring an additional 111,227 shares during the period. Boston Partners raised its holdings in First of Long Island by 74.3% during the 3rd quarter. Boston Partners now owns 206,701 shares of the bank’s stock valued at $6,294,000 after acquiring an additional 88,100 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in First of Long Island by 118.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 162,550 shares of the bank’s stock valued at $4,949,000 after acquiring an additional 88,100 shares during the period. 53.63% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on FLIC shares. Zacks Investment Research cut shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. ValuEngine cut shares of First of Long Island from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Sandler O’Neill set a $33.00 target price on shares of First of Long Island and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, BidaskClub cut shares of First of Long Island from a “hold” rating to a “sell” rating in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.33.

First of Long Island Corp (FLIC) opened at $28.55 on Friday. The company has a market cap of $703.22, a price-to-earnings ratio of 19.83 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.24. First of Long Island Corp has a 1 year low of $25.60 and a 1 year high of $33.50.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Monday, October 30th. The bank reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $26.87 million during the quarter, compared to analyst estimates of $27.05 million. First of Long Island had a net margin of 28.36% and a return on equity of 10.81%. sell-side analysts anticipate that First of Long Island Corp will post 1.5 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.10%. First of Long Island’s dividend payout ratio (DPR) is currently 41.67%.

In other news, insider Mark D. Curtis sold 6,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $29.38, for a total transaction of $176,280.00. Following the completion of the transaction, the insider now directly owns 41,607 shares in the company, valued at approximately $1,222,413.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter C. Teagle III sold 5,630 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $29.75, for a total transaction of $167,492.50. Following the transaction, the director now owns 129,810 shares of the company’s stock, valued at $3,861,847.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,434 shares of company stock valued at $661,149 over the last 90 days. Company insiders own 4.83% of the company’s stock.

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First of Long Island Profile

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-through banking, merchant credit card services, and investment management and trust services.

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Institutional Ownership by Quarter for First of Long Island (NASDAQ:FLIC)

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