Stifel Financial Corp Reduces Stock Position in The First of Long Island Co. (NASDAQ:FLIC)

Stifel Financial Corp trimmed its position in The First of Long Island Co. (NASDAQ:FLIC - Free Report) by 34.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,047 shares of the bank's stock after selling 19,886 shares during the quarter. Stifel Financial Corp owned approximately 0.17% of First of Long Island worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new position in First of Long Island during the 4th quarter worth $126,000. SG Americas Securities LLC lifted its stake in First of Long Island by 28.4% in 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 purchased a new stake in First of Long Island in the 4th quarter worth about $154,000. Proficio Capital Partners LLC purchased a new stake in shares of First of Long Island during the 4th quarter worth about $165,000. Finally, Franklin Resources Inc. purchased a new stake in shares of First of Long Island during the 4th quarter worth about $169,000. Institutional investors and hedge funds own 48.33% of the company's stock.

First of Long Island Trading Up 2.8%

Shares of FLIC opened at $12.69 on Tuesday. The stock has a fifty day moving average price of $11.71 and a two-hundred day moving average price of $12.57. The company has a market cap of $287.81 million, a price-to-earnings ratio of 16.92 and a beta of 0.85. The First of Long Island Co. has a 52-week low of $9.30 and a 52-week high of $15.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

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

First of Long Island Dividend Announcement

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

Analyst Ratings Changes

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

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.

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