OMERS ADMINISTRATION Corp Reduces Holdings in The First of Long Island Co. (NASDAQ:FLIC)

OMERS ADMINISTRATION Corp cut its position in shares of The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,629 shares of the bank's stock after selling 31,848 shares during the quarter. OMERS ADMINISTRATION Corp owned approximately 0.68% of First of Long Island worth $1,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FLIC. Janney Montgomery Scott LLC purchased a new position in shares of First of Long Island during the fourth quarter valued at approximately $126,000. Algert Global LLC purchased a new position in shares of First of Long Island during the 4th quarter worth $134,000. SG Americas Securities LLC boosted its holdings 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 during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of First of Long Island during the fourth quarter worth $154,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of First of Long Island in the fourth quarter valued at $165,000. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

First of Long Island Trading Down 1.3%

Shares of NASDAQ FLIC traded down $0.17 during trading on Wednesday, hitting $12.16. 3,276 shares of the company traded hands, compared to its average volume of 103,651. The firm has a market capitalization of $275.68 million, a P/E ratio of 16.19 and a beta of 0.85. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average price of $11.78 and a 200-day moving average price of $12.57. The First of Long Island Co. has a 1 year low of $9.30 and a 1 year high of $15.03.

First of Long Island (NASDAQ:FLIC - Get Free Report) last issued its 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). 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island's payout ratio is currently 116.67%.

Wall Street Analyst Weigh In

FLIC has been the topic of a number of research analyst reports. StockNews.com began coverage on First of Long Island in a research note on Wednesday, May 7th. They issued a "hold" rating on the stock. Keefe, Bruyette & Woods raised shares of 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 report on Tuesday, April 1st.

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.