Cubist Systematic Strategies LLC Acquires Shares of 22,249 The First of Long Island Co. (NASDAQ:FLIC)

Cubist Systematic Strategies LLC purchased a new position in The First of Long Island Co. (NASDAQ:FLIC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,249 shares of the bank's stock, valued at approximately $260,000. Cubist Systematic Strategies LLC owned about 0.10% of First of Long Island at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in First of Long Island during the 4th quarter worth about $126,000. Algert Global LLC bought a new position in First of Long Island during the 4th quarter worth about $134,000. SG Americas Securities LLC grew its holdings in First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank's stock worth $138,000 after acquiring an additional 2,614 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in First of Long Island during the 4th quarter worth about $154,000. Finally, Proficio Capital Partners LLC bought a new position in First of Long Island during the 4th quarter worth about $165,000. 48.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLIC has been the topic of several recent research reports. Wall Street Zen initiated coverage on shares of First of Long Island in a report on Wednesday, May 7th. They set a "hold" rating on the stock. Keefe, Bruyette & Woods upgraded shares of First of Long Island from a "market perform" rating to an "outperform" rating and raised their price target for the company from $16.04 to $16.56 in a report on Tuesday, April 1st.

First of Long Island Stock Up 0.9%

Shares of NASDAQ:FLIC traded up $0.10 during trading on Friday, reaching $11.79. The stock had a trading volume of 35,443 shares, compared to its average volume of 103,625. The First of Long Island Co. has a one year low of $9.30 and a one year high of $15.03. The company has a market capitalization of $267.40 million, a P/E ratio of 15.72 and a beta of 0.85. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The firm's 50-day simple moving average is $11.76 and its 200 day simple moving average is $12.55.

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

First of Long Island Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.12%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island's payout ratio is currently 116.67%.

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.