Morgan Dempsey Capital Management LLC decreased its stake in shares of The First of Long Island Corporation (NASDAQ:FLIC) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 48,049 shares of the bank’s stock after selling 847 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in The First of Long Island Corporation were worth $1,374,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FLIC. Nordea Investment Management AB acquired a new stake in shares of The First of Long Island Corporation during the first quarter valued at $108,000. Tower Research Capital LLC TRC increased its stake in shares of The First of Long Island Corporation by 3,563.7% in the first quarter. Tower Research Capital LLC TRC now owns 4,140 shares of the bank’s stock valued at $112,000 after buying an additional 4,027 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of The First of Long Island Corporation during the first quarter valued at $163,000. HighTower Advisors LLC acquired a new stake in shares of The First of Long Island Corporation during the first quarter valued at $252,000. Finally, UBS Group AG increased its stake in shares of The First of Long Island Corporation by 33.1% in the first quarter. UBS Group AG now owns 10,398 shares of the bank’s stock valued at $281,000 after buying an additional 2,583 shares in the last quarter. Institutional investors own 51.23% of the company’s stock.

The First of Long Island Corporation (NASDAQ FLIC) opened at 28.25 on Wednesday. The company has a market cap of $681.64 million, a PE ratio of 20.15 and a beta of 0.78. The First of Long Island Corporation has a 12 month low of $25.08 and a 12 month high of $40.40. The stock’s 50 day moving average is $27.90 and its 200 day moving average is $27.49.

The First of Long Island Corporation (NASDAQ:FLIC) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The First of Long Island Corporation had a net margin of 28.29% and a return on equity of 10.84%. The company had revenue of $26.14 million for the quarter, compared to the consensus estimate of $25.86 million. Equities analysts predict that The First of Long Island Corporation will post $1.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.56 annualized dividend and a dividend yield of 1.98%. The First of Long Island Corporation’s payout ratio is 40.19%.

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Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 target price on shares of The First of Long Island Corporation in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded The First of Long Island Corporation from a “strong sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, BidaskClub downgraded The First of Long Island Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.

In other news, insider Donald L. Manfredonia sold 2,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $28.71, for a total transaction of $57,420.00. Following the transaction, the insider now owns 99,731 shares in the company, valued at approximately $2,863,277.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Donald L. Manfredonia sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $27.93, for a total transaction of $27,930.00. Following the transaction, the insider now owns 100,231 shares in the company, valued at approximately $2,799,451.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,843 shares of company stock worth $303,668. Insiders own 4.83% of the company’s stock.

The First of Long Island Corporation Company Profile

The First of Long Island Corporation is a one-bank holding company. The Company provides financial services through its subsidiary, The First National Bank of Long Island (the Bank). Its services include account reconciliation services, bank by mail, personal money orders, bill payment, remote deposit, cash management services, safe deposit boxes, collection services securities transactions, controlled disbursement accounts, signature guarantee services, drive-through banking, merchant credit card services, and investment management and trust services.

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

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