Empowered Funds LLC Grows Holdings in The First of Long Island Co. (NASDAQ:FLIC)

Empowered Funds LLC raised its position in shares of The First of Long Island Co. (NASDAQ:FLIC) by 5.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,048 shares of the bank’s stock after purchasing an additional 2,948 shares during the quarter. Empowered Funds LLC owned 0.26% of First of Long Island worth $747,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FLIC. Vanguard Group Inc. lifted its stake in shares of First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after buying an additional 8,109 shares in the last quarter. Renaissance Technologies LLC raised its holdings in First of Long Island by 1.7% during the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after acquiring an additional 10,400 shares during the period. AQR Capital Management LLC lifted its position in shares of First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after acquiring an additional 51,792 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of First of Long Island by 9.2% during the second quarter. Bank of New York Mellon Corp now owns 173,446 shares of the bank’s stock worth $1,738,000 after purchasing an additional 14,656 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors.

First of Long Island Trading Up 2.8 %

Shares of First of Long Island stock opened at $14.42 on Friday. The First of Long Island Co. has a twelve month low of $9.30 and a twelve month high of $14.67. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $13.23 and a 200-day moving average price of $11.89. The firm has a market cap of $325.03 million, a price-to-earnings ratio of 16.39 and a beta of 0.68.

First of Long Island Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio is presently 95.46%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com began coverage on First of Long Island in a report on Wednesday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their target price on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares in the company, valued at $43,853.10. This trade represents a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.33% of the company’s stock.

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.