Wedge Capital Management L L P NC lowered its stake in First of Long Island Corp (NASDAQ:FLIC) by 1.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 297,409 shares of the bank’s stock after selling 4,926 shares during the period. Wedge Capital Management L L P NC’s holdings in First of Long Island were worth $6,766,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLIC. Susquehanna International Group LLP acquired a new position in First of Long Island in the 2nd quarter valued at about $3,285,000. Nuveen Asset Management LLC bought a new stake in First of Long Island in the 2nd quarter valued at about $2,526,000. Morgan Stanley boosted its holdings in First of Long Island by 1,413.5% in the 2nd quarter. Morgan Stanley now owns 89,040 shares of the bank’s stock valued at $1,788,000 after purchasing an additional 83,157 shares during the period. Colony Group LLC bought a new stake in First of Long Island in the 2nd quarter valued at about $1,172,000. Finally, FMR LLC boosted its holdings in First of Long Island by 292,187.5% in the 1st quarter. FMR LLC now owns 46,766 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 46,750 shares during the period. Institutional investors and hedge funds own 57.20% of the company’s stock.

In other news, EVP Mark D. Curtis sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $23.55, for a total transaction of $117,750.00. Following the completion of the sale, the executive vice president now owns 61,394 shares of the company’s stock, valued at approximately $1,445,828.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael N. Vittorio sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $21.13, for a total transaction of $63,390.00. Following the sale, the insider now directly owns 109,679 shares of the company’s stock, valued at approximately $2,317,517.27. The disclosure for this sale can be found here. Corporate insiders own 4.93% of the company’s stock.

NASDAQ FLIC opened at $24.22 on Friday. The firm has a 50-day moving average price of $23.04 and a two-hundred day moving average price of $22.21. First of Long Island Corp has a 12-month low of $17.53 and a 12-month high of $24.45. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $591.61 million, a P/E ratio of 14.86 and a beta of 0.61.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Wednesday, October 30th. The bank reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. First of Long Island had a net margin of 28.03% and a return on equity of 10.92%. The company had revenue of $27.61 million during the quarter, compared to the consensus estimate of $27.79 million. Equities analysts expect that First of Long Island Corp will post 1.73 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, October 8th. This is an increase from First of Long Island’s previous quarterly dividend of $0.17. First of Long Island’s dividend payout ratio is 44.17%.

FLIC has been the subject of a number of recent research reports. BidaskClub raised shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Zacks Investment Research raised shares of First of Long Island from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st.

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

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