Empowered Funds LLC Grows Stock Position in The First of Long Island Co. (NASDAQ:FLIC)

Empowered Funds LLC boosted its position in shares of The First of Long Island Co. (NASDAQ:FLIC) by 5.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,048 shares of the bank’s stock after buying an additional 2,948 shares during the quarter. Empowered Funds LLC’s holdings in First of Long Island were worth $747,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after acquiring an additional 321,032 shares during the last quarter. American Century Companies Inc. lifted its stake in First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after purchasing an additional 51,792 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of First of Long Island during the second quarter valued at approximately $230,000. Marshall Wace LLP bought a new position in shares of First of Long Island during the second quarter valued at approximately $209,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of First of Long Island in the first quarter worth approximately $204,000. Institutional investors own 48.33% of the company’s stock.

First of Long Island Stock Performance

Shares of NASDAQ:FLIC opened at $14.42 on Friday. The firm’s 50 day simple moving average is $13.23 and its 200-day simple moving average is $11.89. 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 $14.67. The firm has a market cap of $325.03 million, a PE ratio of 16.39 and a beta of 0.68.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a yield of 5.83%. First of Long Island’s payout ratio is currently 95.46%.

Insider Buying and Selling at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This trade represents a 97.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FLIC shares. StockNews.com assumed coverage on First of Long Island in a report on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods boosted 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.

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.