Stifel Financial Corp Grows Stake in The First of Long Island Co. (NASDAQ:FLIC)

Stifel Financial Corp boosted its stake in The First of Long Island Co. (NASDAQ:FLIC) by 8.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 57,933 shares of the bank’s stock after buying an additional 4,716 shares during the quarter. Stifel Financial Corp’s holdings in First of Long Island were worth $746,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FLIC. FMR LLC lifted its position in shares of First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares in the last quarter. Quest Partners LLC acquired a new position in First of Long Island in the 3rd quarter valued at $212,000. Empowered Funds LLC raised its stake in First of Long Island by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares during the last quarter. CWM LLC lifted its holdings in 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 purchasing an additional 6,856 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in First of Long Island during the 3rd quarter worth $118,000. 48.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of First of Long Island in a research report on Sunday. They issued a “hold” rating for the company.

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $12.16 on Wednesday. The business’s 50 day moving average price is $13.61 and its 200 day moving average price is $12.45. The company has a market cap of $274.14 million, a price-to-earnings ratio of 13.82 and a beta of 0.71. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The First of Long Island Co. has a one year low of $9.30 and a one year high of $15.03.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Tuesday, December 31st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.91%. The ex-dividend date is Tuesday, December 31st. First of Long Island’s payout ratio is currently 95.45%.

About First of Long Island

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.