GSA Capital Partners LLP Sells 11,642 Shares of The First of Long Island Co. (NASDAQ:FLIC)

GSA Capital Partners LLP lowered its position in shares of The First of Long Island Co. (NASDAQ:FLIC) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,424 shares of the bank’s stock after selling 11,642 shares during the quarter. GSA Capital Partners LLP owned approximately 0.17% of First of Long Island worth $482,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FLIC. BNP Paribas Financial Markets increased its position in shares of First of Long Island by 57.3% during the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after purchasing an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in First of Long Island in the 1st quarter valued at about $132,000. State Board of Administration of Florida Retirement System acquired a new stake in First of Long Island in the 1st quarter valued at about $204,000. Vanguard Group Inc. increased its position in First of Long Island by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after acquiring an additional 8,109 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in First of Long Island by 32.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after acquiring an additional 3,570 shares in the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Stock Down 0.6 %

First of Long Island stock opened at $13.88 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The First of Long Island Co. has a fifty-two week low of $9.30 and a fifty-two week high of $14.67. The company’s 50 day simple moving average is $13.14 and its 200 day simple moving average is $11.83. The firm has a market capitalization of $312.86 million, a price-to-earnings ratio of 15.77 and a beta of 0.68.

First of Long Island Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s payout ratio is currently 95.46%.

Insider Buying and Selling at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This trade represents a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FLIC. StockNews.com began coverage on shares of First of Long Island in a research note on Wednesday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised their target price on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

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, 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.