ProShare Advisors LLC Increases Stake in The First of Long Island Co. (NASDAQ:FLIC)

ProShare Advisors LLC boosted its holdings in shares of The First of Long Island Co. (NASDAQ:FLIC) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 687,077 shares of the bank’s stock after purchasing an additional 51,872 shares during the period. ProShare Advisors LLC owned about 3.06% of First of Long Island worth $7,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLIC. Webster Bank N. A. purchased a new position in First of Long Island during the 1st quarter valued at $28,000. Janney Montgomery Scott LLC purchased a new position in First of Long Island during the first quarter valued at $132,000. J.W. Cole Advisors Inc. bought a new stake in First of Long Island during the fourth quarter worth about $134,000. Quadrature Capital Ltd purchased a new position in shares of First of Long Island during the fourth quarter valued at approximately $144,000. Finally, SG Americas Securities LLC grew its stake in shares of First of Long Island by 21.7% in the 4th quarter. SG Americas Securities LLC now owns 11,602 shares of the bank’s stock worth $154,000 after buying an additional 2,068 shares during the last quarter. Institutional investors own 48.33% of the company’s stock.

First of Long Island Stock Up 2.4 %

First of Long Island stock opened at $12.15 on Thursday. The stock has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $10.88. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.37. The firm has a market cap of $273.62 million, a price-to-earnings ratio of 11.25 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 $14.26.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data 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). First of Long Island had a net margin of 14.14% and a return on equity of 6.54%. The company had revenue of $44.27 million for the quarter, compared to the consensus estimate of $22.50 million. During the same quarter last year, the company earned $0.29 EPS. Equities analysts predict that The First of Long Island Co. will post 0.8 EPS for the current fiscal year.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.91%. The ex-dividend date is Wednesday, July 10th. First of Long Island’s payout ratio is currently 77.78%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of First of Long Island from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th.

About First of Long Island

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.