First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

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

First of Long Island Trading Down 1.4 %

Shares of FLIC stock opened at $11.68 on Monday. The business has a 50-day moving average price of $13.41 and a two-hundred day moving average price of $12.54. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. 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 firm has a market cap of $263.31 million, a P/E ratio of 13.27 and a beta of 0.71.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.19%. The ex-dividend date is Tuesday, December 31st. First of Long Island’s dividend payout ratio is currently 95.45%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently made changes to their positions in FLIC. FMR LLC lifted its stake in First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after purchasing an additional 1,950 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of First of Long Island in the second quarter worth about $103,000. SG Americas Securities LLC bought a new stake in shares of First of Long Island in the 3rd quarter valued at about $118,000. CWM LLC boosted its holdings in First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after acquiring an additional 6,856 shares during the period. Finally, Marshall Wace LLP purchased a new position in First of Long Island in the 2nd quarter worth approximately $209,000. Hedge funds and other 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.