Quadrature Capital Ltd Makes New $431,000 Investment in The First of Long Island Co. (NASDAQ:FLIC)

Posted by on Mar 12th, 2023

Quadrature Capital Ltd purchased a new stake in The First of Long Island Co. (NASDAQ:FLIC – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,992 shares of the bank’s stock, valued at approximately $431,000. Quadrature Capital Ltd owned approximately 0.11% of First of Long Island as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FLIC. Lazard Asset Management LLC bought a new position in First of Long Island in the 2nd quarter worth about $29,000. Quadrant Capital Group LLC boosted its position in shares of First of Long Island by 1,262.1% in the third quarter. Quadrant Capital Group LLC now owns 3,269 shares of the bank’s stock valued at $56,000 after acquiring an additional 3,029 shares during the period. Tower Research Capital LLC TRC grew its stake in First of Long Island by 249.1% during the third quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the bank’s stock valued at $73,000 after acquiring an additional 3,041 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in First of Long Island during the 3rd quarter worth approximately $91,000. Finally, US Bancorp DE lifted its stake in First of Long Island by 659.9% in the 3rd quarter. US Bancorp DE now owns 6,087 shares of the bank’s stock worth $105,000 after purchasing an additional 5,286 shares in the last quarter. 57.03% of the stock is currently owned by hedge funds and other institutional investors.

First of Long Island Price Performance

Shares of NASDAQ FLIC opened at $15.41 on Friday. The stock’s 50-day simple moving average is $17.66 and its two-hundred day simple moving average is $18.01. The First of Long Island Co. has a twelve month low of $15.00 and a twelve month high of $21.42. The firm has a market capitalization of $349.18 million, a P/E ratio of 7.52 and a beta of 0.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.74.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Thursday, March 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Wednesday, March 15th. First of Long Island’s dividend payout ratio is currently 40.98%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of First of Long Island from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th.

First of Long Island Company Profile

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The First of Long Island Corp. is a holding company, through which its subsidiaries, engages in the provision of financial services. It offers personal banking, business banking and lending services to individual, professional, corporate, institutional, and government customers. The company was founded on February 7, 1984 and is headquartered in Glen Head, NY.

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

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