Sei Investments Co. Cuts Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Sei Investments Co. lowered its holdings in The First of Long Island Co. (NASDAQ:FLIC) by 53.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,069 shares of the bank’s stock after selling 11,600 shares during the quarter. Sei Investments Co.’s holdings in First of Long Island were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. raised its position in 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 worth $5,182,000 after buying an additional 49,798 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of First of Long Island in the fourth quarter worth approximately $154,000. Proficio Capital Partners LLC purchased a new position in shares of First of Long Island during the fourth quarter valued at approximately $165,000. Charles Schwab Investment Management Inc. lifted its position in First of Long Island by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after purchasing an additional 1,271 shares during the period. Finally, Anchor Capital Advisors LLC boosted its holdings in First of Long Island by 0.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock worth $2,058,000 after purchasing an additional 877 shares during the last quarter. 48.33% of the stock is owned by institutional investors.

First of Long Island Stock Performance

FLIC opened at $10.62 on Friday. The company’s 50 day moving average is $12.50 and its 200 day moving average is $12.80. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $240.38 million, a price-to-earnings ratio of 14.16 and a beta of 0.69. The First of Long Island Co. has a 12-month low of $9.30 and a 12-month high of $15.03.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 7.91%. The ex-dividend date was Monday, March 24th. First of Long Island’s dividend payout ratio is presently 112.00%.

Analyst Ratings Changes

FLIC has been the subject of a number of research reports. StockNews.com assumed coverage on shares of First of Long Island in a research note on Saturday, April 5th. They set a “hold” rating for the company. Keefe, Bruyette & Woods upgraded First of Long Island from a “market perform” rating to an “outperform” rating and upped their price objective for the company 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.