The First of Long Island Co. (NASDAQ:FLIC) Shares Purchased by JPMorgan Chase & Co.

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLIC. Segall Bryant & Hamill LLC purchased a new position in shares of First of Long Island during the fourth quarter worth about $1,856,000. American Century Companies Inc. boosted its position 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 purchasing an additional 49,798 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in First of Long Island during the 4th quarter worth approximately $154,000. Proficio Capital Partners LLC acquired a new position in First of Long Island during the fourth quarter worth approximately $165,000. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 valued at $2,034,000 after buying an additional 1,271 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLIC. StockNews.com initiated coverage on shares of First of Long Island in a research note on Tuesday. They set a "hold" rating for the company. Keefe, Bruyette & Woods raised First of Long Island from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $16.04 to $16.56 in a report on Tuesday, April 1st.

First of Long Island Stock Performance

FLIC traded down $0.12 during trading on Wednesday, hitting $11.52. The stock had a trading volume of 60,386 shares, compared to its average volume of 105,123. The firm has a market capitalization of $260.76 million, a P/E ratio of 15.36 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 company's 50-day moving average price is $11.85 and its 200 day moving average price is $12.65.

First of Long Island Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 24th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.84 annualized dividend and a yield of 7.29%. First of Long Island's dividend payout ratio is currently 112.00%.

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.