Credit Industriel ET Commercial Makes New Investment in The First of Long Island Co. (NASDAQ:FLIC)

Credit Industriel ET Commercial bought a new stake in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 101,009 shares of the bank's stock, valued at approximately $1,180,000. Credit Industriel ET Commercial owned about 0.45% of First of Long Island at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Anchor Capital Advisors LLC increased its holdings in First of Long Island by 0.5% in the 4th quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank's stock valued at $2,058,000 after buying an additional 877 shares during the period. Charles Schwab Investment Management Inc. raised its position in First of Long Island by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank's stock worth $2,034,000 after purchasing an additional 1,271 shares in the last quarter. FMR LLC lifted its stake in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank's stock worth $45,000 after purchasing an additional 1,950 shares during the period. SG Americas Securities LLC boosted its holdings in First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank's stock valued at $138,000 after purchasing an additional 2,614 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of First of Long Island by 5.0% in the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank's stock valued at $712,000 after purchasing an additional 2,876 shares during the period. 48.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FLIC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised First of Long Island from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $16.04 to $16.56 in a research note on Tuesday, April 1st. StockNews.com began coverage on First of Long Island in a report on Tuesday. They set a "hold" rating for the company.

First of Long Island Price Performance

Shares of NASDAQ FLIC traded up $0.10 during mid-day trading on Tuesday, hitting $11.80. 11,626 shares of the stock were exchanged, compared to its average volume of 105,664. The company has a market cap of $267.07 million, a P/E ratio of 15.73 and a beta of 0.69. 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 twelve month low of $9.30 and a twelve month high of $15.03. The stock's fifty day simple moving average is $11.88 and its two-hundred day simple moving average is $12.66.

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island's dividend payout ratio is currently 112.00%.

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.