ABC Arbitrage SA Acquires New Stake in The First of Long Island Co. (NASDAQ:FLIC)

ABC Arbitrage SA bought a new position in shares of The First of Long Island Co. (NASDAQ:FLIC) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 389,113 shares of the bank’s stock, valued at approximately $4,545,000. ABC Arbitrage SA owned approximately 1.73% of First of Long Island at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First of Long Island during the 3rd quarter worth approximately $118,000. Janney Montgomery Scott LLC bought a new stake in shares of First of Long Island during the 4th quarter worth approximately $126,000. CWM LLC boosted its holdings in shares of First of Long Island by 87.8% in the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after buying an additional 6,856 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of First of Long Island in the third quarter valued at $212,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of First of Long Island in a research note on Saturday, February 8th. They issued a “hold” rating for the company.

First of Long Island Price Performance

NASDAQ:FLIC opened at $13.64 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $15.03. The stock’s 50 day moving average price is $12.53 and its two-hundred day moving average price is $12.88. The firm has a market capitalization of $307.45 million, a price-to-earnings ratio of 18.19 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Tuesday, December 31st were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a yield of 6.16%. First of Long Island’s dividend payout ratio (DPR) is currently 112.00%.

First of Long Island 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, 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.