First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued to investors on Sunday morning. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Price Performance

Shares of First of Long Island stock opened at $13.64 on Friday. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The firm has a fifty day simple moving average of $12.53 and a 200-day simple moving average of $12.87. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $307.45 million, a price-to-earnings ratio of 18.19 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date was Tuesday, December 31st. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in First of Long Island during the third quarter worth about $118,000. CWM LLC lifted its position in shares of First of Long Island by 87.8% in the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after acquiring an additional 6,856 shares during the period. Empowered Funds LLC grew its holdings in shares of First of Long Island by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after purchasing an additional 2,948 shares in the last quarter. Quest Partners LLC bought a new stake in shares of First of Long Island during the third quarter valued at approximately $212,000. Finally, FMR LLC raised its stake in shares of First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors own 48.33% 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.