Dimensional Fund Advisors LP Grows Stock Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Dimensional Fund Advisors LP boosted its stake in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,154,523 shares of the bank's stock after buying an additional 55,710 shares during the period. Dimensional Fund Advisors LP owned 5.12% of First of Long Island worth $13,485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of First of Long Island by 73.1% during the third quarter. Barclays PLC now owns 57,758 shares of the bank's stock valued at $743,000 after buying an additional 24,399 shares during the last quarter. SG Americas Securities LLC increased its position in shares of 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 worth $138,000 after purchasing an additional 2,614 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of First of Long Island in the 4th quarter worth $126,000. Empowered Funds LLC grew its stake in First of Long Island by 5.0% during the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank's stock worth $712,000 after buying an additional 2,876 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of First of Long Island during the fourth quarter worth about $4,545,000. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FLIC shares. StockNews.com began coverage on shares of First of Long Island in a research note on Wednesday, May 7th. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised shares of First of Long Island from a "market perform" rating to an "outperform" rating and upped their price target for the company from $16.04 to $16.56 in a report on Tuesday, April 1st.

First of Long Island Stock Performance

FLIC stock traded up $0.12 during trading on Thursday, hitting $12.69. 6,062 shares of the company traded hands, compared to its average volume of 104,422. The First of Long Island Co. has a 1 year low of $9.30 and a 1 year high of $15.03. The company has a market cap of $287.81 million, a PE ratio of 16.93 and a beta of 0.85. The stock's 50-day simple moving average is $11.72 and its 200 day simple moving average is $12.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). The firm had revenue of $21.54 million during the quarter, compared to analyst estimates of $21.89 million. First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Monday, March 24th. First of Long Island's payout ratio is currently 116.67%.

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, 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.