Systematic Financial Management LP lifted its stake in First of Long Island Corp (NASDAQ:FLIC) by 24.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,715 shares of the bank’s stock after purchasing an additional 8,930 shares during the quarter. Systematic Financial Management LP’s holdings in First of Long Island were worth $1,003,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in First of Long Island during the 4th quarter worth approximately $28,000. Legal & General Group Plc raised its position in First of Long Island by 20.4% during the 4th quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after buying an additional 817 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in First of Long Island by 425.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock worth $113,000 after buying an additional 4,159 shares during the last quarter. SG Americas Securities LLC purchased a new position in First of Long Island during the 1st quarter worth approximately $134,000. Finally, Advisor Group Inc. raised its position in First of Long Island by 659.2% during the 4th quarter. Advisor Group Inc. now owns 7,038 shares of the bank’s stock worth $141,000 after buying an additional 6,111 shares during the last quarter. 56.29% of the stock is owned by hedge funds and other institutional investors.
FLIC has been the subject of a number of recent research reports. BidaskClub raised shares of First of Long Island from a “hold” rating to a “buy” rating in a research report on Friday, February 22nd. Zacks Investment Research cut shares of First of Long Island from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Boenning Scattergood began coverage on shares of First of Long Island in a research note on Monday, April 1st. They set a “neutral” rating on the stock. Finally, ValuEngine raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Monday, May 13th.
Shares of NASDAQ FLIC traded up $0.05 during midday trading on Tuesday, reaching $22.61. 2,761 shares of the stock were exchanged, compared to its average volume of 62,811. The stock has a market capitalization of $561.77 million, a price-to-earnings ratio of 13.87 and a beta of 0.70. First of Long Island Corp has a twelve month low of $17.53 and a twelve month high of $26.80. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.95 and a quick ratio of 0.94.
First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Tuesday, April 30th. The bank reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The firm had revenue of $27.85 million for the quarter, compared to analyst estimates of $28.65 million. First of Long Island had a return on equity of 10.80% and a net margin of 28.70%. Analysts anticipate that First of Long Island Corp will post 1.74 earnings per share for the current fiscal year.
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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, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.
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