JPMorgan Chase & Co. Grows Position in The First of Long Island Co. (NASDAQ:FLIC)

JPMorgan Chase & Co. boosted its stake in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,475 shares of the bank's stock after purchasing an additional 31,161 shares during the period. JPMorgan Chase & Co. owned about 0.37% of First of Long Island worth $987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLIC. ABC Arbitrage SA purchased a new stake in First of Long Island during the fourth quarter valued at $4,545,000. Segall Bryant & Hamill LLC purchased a new stake in First of Long Island in the fourth quarter worth about $1,856,000. American Century Companies Inc. increased its holdings in shares of First of Long Island by 12.6% in the 4th quarter. American Century Companies Inc. now owns 443,701 shares of the bank's stock valued at $5,182,000 after acquiring an additional 49,798 shares during the period. Bank of New York Mellon Corp raised its holdings in First of Long Island by 27.9% in the fourth quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank's stock worth $2,399,000 after purchasing an additional 44,857 shares in the last quarter. Finally, Barclays PLC boosted its stake in First of Long Island by 73.1% in the third quarter. Barclays PLC now owns 57,758 shares of the bank's stock valued at $743,000 after acquiring an additional 24,399 shares in the last quarter. Hedge funds and other institutional investors own 48.33% of the company's stock.

First of Long Island Stock Performance

NASDAQ:FLIC traded up $0.35 during trading hours on Friday, reaching $12.00. The company had a trading volume of 24,417 shares, compared to its average volume of 104,322. The firm has a market cap of $271.71 million, a PE ratio of 15.96 and a beta of 0.69. The First of Long Island Co. has a 1-year low of $9.30 and a 1-year high of $15.03. The business's 50 day moving average price is $11.79 and its 200-day moving average price is $12.63. 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 released its quarterly earnings results on Wednesday, April 30th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates 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 dividend of $0.21 per share. The ex-dividend date was Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 7.00%. First of Long Island's payout ratio is 112.00%.

Analyst Upgrades and Downgrades

FLIC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded First of Long Island from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st. StockNews.com assumed coverage on shares of First of Long Island in a research note on Tuesday. They issued a "hold" rating on the stock.

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.