State Board of Administration of Florida Retirement System Raises Position in The First of Long Island Co. (NASDAQ:FLIC)

State Board of Administration of Florida Retirement System boosted its position in The First of Long Island Co. (NASDAQ:FLIC – Get Rating) by 63.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,071 shares of the bank’s stock after purchasing an additional 6,997 shares during the period. State Board of Administration of Florida Retirement System’s holdings in First of Long Island were worth $325,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in First of Long Island by 1.7% in the 3rd quarter. BlackRock Inc. now owns 1,862,010 shares of the bank’s stock valued at $32,100,000 after acquiring an additional 30,873 shares during the period. Vanguard Group Inc. boosted its holdings in First of Long Island by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,095,597 shares of the bank’s stock worth $18,888,000 after buying an additional 73,278 shares during the period. Dimensional Fund Advisors LP grew its stake in First of Long Island by 5.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,063,823 shares of the bank’s stock valued at $18,341,000 after buying an additional 59,156 shares in the last quarter. Renaissance Technologies LLC raised its holdings in First of Long Island by 5.0% during the 1st quarter. Renaissance Technologies LLC now owns 690,781 shares of the bank’s stock valued at $13,443,000 after acquiring an additional 32,900 shares during the period. Finally, State Street Corp lifted its position in shares of First of Long Island by 2.4% during the third quarter. State Street Corp now owns 502,688 shares of the bank’s stock worth $8,666,000 after acquiring an additional 11,668 shares in the last quarter. 57.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Abbott Root Cooper bought 15,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was acquired at an average cost of $10.33 per share, for a total transaction of $154,950.00. Following the completion of the transaction, the director now directly owns 186,647 shares in the company, valued at approximately $1,928,063.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 52,718 shares of company stock worth $544,082. Insiders own 6.33% of the company’s stock.

First of Long Island Price Performance

NASDAQ:FLIC opened at $10.73 on Friday. The firm has a market capitalization of $242.07 million, a price-to-earnings ratio of 5.90 and a beta of 0.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $12.31 and a 200 day moving average of $15.99. The First of Long Island Co. has a 52-week low of $8.79 and a 52-week high of $20.13.

First of Long Island Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Thursday, March 16th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Wednesday, March 15th. First of Long Island’s payout ratio is 46.15%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLIC. Keefe, Bruyette & Woods reduced their price target on First of Long Island from $17.50 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. StockNews.com cut First of Long Island from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, TheStreet lowered shares of First of Long Island from a “b-” rating to a “c+” rating in a research report on Wednesday, March 29th.

About First of Long Island

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The First of Long Island Corp. is a holding company, through which its subsidiaries, engages in the provision of financial services. It offers personal banking, business banking and lending services to individual, professional, corporate, institutional, and government customers. The company was founded on February 7, 1984 and is headquartered in Glen Head, NY.