The First of Long Island Corporation (FLIC) Shares Bought by Boston Partners

Boston Partners raised its position in shares of The First of Long Island Corporation (NASDAQ:FLIC) by 74.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,701 shares of the bank’s stock after acquiring an additional 88,100 shares during the period. Boston Partners owned approximately 0.85% of The First of Long Island Corporation worth $6,294,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of The First of Long Island Corporation by 32.5% during the second quarter. Nordea Investment Management AB now owns 5,300 shares of the bank’s stock worth $152,000 after acquiring an additional 1,300 shares during the period. Legal & General Group Plc boosted its holdings in shares of The First of Long Island Corporation by 12.3% during the second quarter. Legal & General Group Plc now owns 5,752 shares of the bank’s stock worth $164,000 after acquiring an additional 630 shares during the period. UBS Asset Management Americas Inc. bought a new stake in shares of The First of Long Island Corporation during the second quarter worth approximately $204,000. GSA Capital Partners LLP bought a new stake in shares of The First of Long Island Corporation during the second quarter worth approximately $227,000. Finally, HighTower Advisors LLC bought a new stake in shares of The First of Long Island Corporation during the first quarter worth approximately $252,000. Institutional investors own 53.07% of the company’s stock.

Shares of The First of Long Island Corporation (FLIC) opened at $29.15 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.96 and a quick ratio of 0.49. The stock has a market capitalization of $720.46, a P/E ratio of 20.31 and a beta of 0.81. The First of Long Island Corporation has a 12 month low of $25.08 and a 12 month high of $33.50.

The First of Long Island Corporation (NASDAQ:FLIC) last issued its quarterly earnings results on Monday, October 30th. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $26.87 million during the quarter, compared to analysts’ expectations of $27.05 million. The First of Long Island Corporation had a return on equity of 10.81% and a net margin of 28.36%. research analysts predict that The First of Long Island Corporation will post 1.5 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Wednesday, October 11th were paid a $0.15 dividend. This is a boost from The First of Long Island Corporation’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, October 10th. The First of Long Island Corporation’s payout ratio is 41.67%.

In other The First of Long Island Corporation news, insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $26.80, for a total transaction of $80,400.00. Following the completion of the sale, the insider now directly owns 99,006 shares in the company, valued at $2,653,360.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald L. Manfredonia sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $29.17, for a total value of $29,170.00. Following the sale, the executive vice president now owns 108,500 shares of the company’s stock, valued at $3,164,945. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,054 shares of company stock valued at $287,444. 4.83% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on the company. ValuEngine cut The First of Long Island Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded The First of Long Island Corporation from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Thursday, September 7th. Finally, BidaskClub cut The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th.

ILLEGAL ACTIVITY NOTICE: This story was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://sportsperspectives.com/2017/11/17/the-first-of-long-island-corporation-flic-shares-bought-by-boston-partners.html.

The First of Long Island Corporation Company 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.

Want to see what other hedge funds are holding FLIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The First of Long Island Corporation (NASDAQ:FLIC).

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

Receive News & Ratings for The First of Long Island Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The First of Long Island Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply