Hillsdale Investment Management Inc. Buys Shares of 9,500 The First of Long Island Co. (NASDAQ:FLIC)

Hillsdale Investment Management Inc. purchased a new position in The First of Long Island Co. (NASDAQ:FLIC) in the first quarter, Holdings Channel reports. The fund purchased 9,500 shares of the bank’s stock, valued at approximately $105,000.

Several other institutional investors have also made changes to their positions in FLIC. rhino investment partners Inc acquired a new stake in First of Long Island during the fourth quarter valued at $3,522,000. Anchor Capital Advisors LLC raised its stake in shares of First of Long Island by 156.3% during the 4th quarter. Anchor Capital Advisors LLC now owns 134,455 shares of the bank’s stock worth $1,780,000 after purchasing an additional 81,999 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after buying an additional 51,872 shares during the last quarter. Bailard Inc. bought a new stake in shares of First of Long Island in the 4th quarter valued at approximately $359,000. Finally, Trexquant Investment LP increased its holdings in First of Long Island by 25.0% in the fourth quarter. Trexquant Investment LP now owns 46,329 shares of the bank’s stock worth $613,000 after buying an additional 9,262 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

First of Long Island Stock Up 2.0 %

Shares of FLIC stock traded up $0.24 on Monday, hitting $12.22. The company’s stock had a trading volume of 130,792 shares, compared to its average volume of 148,468. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $275.19 million, a price-to-earnings ratio of 11.31 and a beta of 0.69. The First of Long Island Co. has a fifty-two week low of $9.30 and a fifty-two week high of $14.26. The firm’s fifty day moving average price is $10.25 and its 200-day moving average price is $10.84.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $44.27 million during the quarter, compared to analyst estimates of $22.50 million. First of Long Island had a return on equity of 6.54% and a net margin of 14.14%. During the same period in the prior year, the firm earned $0.29 EPS. Research analysts anticipate that The First of Long Island Co. will post 0.8 EPS for the current year.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a yield of 6.87%. First of Long Island’s payout ratio is currently 77.78%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Friday.

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.