Millennium Management LLC Cuts Position in First of Long Island Corp (FLIC)

Share on StockTwits

Millennium Management LLC reduced its stake in shares of First of Long Island Corp (NASDAQ:FLIC) by 35.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,687 shares of the bank’s stock after selling 83,389 shares during the period. Millennium Management LLC owned 0.60% of First of Long Island worth $3,026,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of First of Long Island by 2.2% during the third quarter. BlackRock Inc. now owns 1,863,216 shares of the bank’s stock valued at $40,525,000 after buying an additional 40,424 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First of Long Island by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 671,303 shares of the bank’s stock valued at $14,601,000 after buying an additional 70,076 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in shares of First of Long Island by 61.3% during the third quarter. MetLife Investment Advisors LLC now owns 16,009 shares of the bank’s stock valued at $348,000 after buying an additional 6,085 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of First of Long Island by 4.8% during the third quarter. TIAA CREF Investment Management LLC now owns 77,434 shares of the bank’s stock valued at $1,684,000 after buying an additional 3,524 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of First of Long Island by 2.1% during the third quarter. Vanguard Group Inc. now owns 1,035,054 shares of the bank’s stock valued at $22,512,000 after buying an additional 21,347 shares during the last quarter. Hedge funds and other institutional investors own 56.18% of the company’s stock.

FLIC has been the topic of several research reports. BidaskClub cut First of Long Island from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Boenning Scattergood initiated coverage on First of Long Island in a research report on Monday, April 1st. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research raised First of Long Island from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. First of Long Island presently has a consensus rating of “Hold” and an average target price of $25.50.

Shares of NASDAQ:FLIC opened at $22.81 on Friday. The stock has a market capitalization of $573.76 million, a price-to-earnings ratio of 14.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.94 and a current ratio of 0.94. First of Long Island Corp has a 52-week low of $17.53 and a 52-week high of $28.50.

First of Long Island (NASDAQ:FLIC) last announced its earnings results on Wednesday, January 30th. The bank reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The firm had revenue of $24.71 million during the quarter, compared to analysts’ expectations of $28.51 million. First of Long Island had a return on equity of 11.06% and a net margin of 29.59%. As a group, equities analysts anticipate that First of Long Island Corp will post 1.75 EPS for the current year.

In other First of Long Island news, insider Michael N. Vittorio sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $21.12, for a total value of $63,360.00. Following the transaction, the insider now directly owns 115,679 shares of the company’s stock, valued at $2,443,140.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.93% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Millennium Management LLC Cuts Position in First of Long Island Corp (FLIC)” was posted by Zolmax and is owned by of Zolmax. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://zolmax.com/investing/millennium-management-llc-cuts-position-in-first-of-long-island-corp-flic/3052037.html.

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, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market products.

Read More: What is a Fiduciary?

Want to see what other hedge funds are holding FLIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First of Long Island Corp (NASDAQ:FLIC).

Institutional Ownership by Quarter for First of Long Island (NASDAQ:FLIC)

Receive News & Ratings for First of Long Island Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First of Long Island and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Spire  Cut to Market Perform at Wells Fargo & Co
Spire Cut to Market Perform at Wells Fargo & Co
SecretCoin  Reaches 1-Day Volume of $36.00
SecretCoin Reaches 1-Day Volume of $36.00
South State  Cut to “Hold” at BidaskClub
South State Cut to “Hold” at BidaskClub
PDF Solutions’  Buy Rating Reaffirmed at Northland Securities
PDF Solutions’ Buy Rating Reaffirmed at Northland Securities
Arch Capital Group  Stock Rating Upgraded by BidaskClub
Arch Capital Group Stock Rating Upgraded by BidaskClub
Flex  Downgraded by BidaskClub
Flex Downgraded by BidaskClub


 
© 2006-2019 Zolmax.