First of Long Island (NASDAQ:FLIC) Downgraded by StockNews.com

StockNews.com downgraded shares of First of Long Island (NASDAQ:FLIC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

First of Long Island Stock Up 0.4 %

Shares of NASDAQ FLIC opened at $10.97 on Tuesday. The firm’s 50-day moving average is $10.07 and its two-hundred day moving average is $10.94. The company has a market capitalization of $247.04 million, a PE ratio of 10.16 and a beta of 0.69. First of Long Island has a 12-month low of $9.30 and a 12-month high of $14.26. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Friday, April 26th. The bank reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $44.27 million during the quarter, compared to analysts’ expectations of $22.50 million. First of Long Island had a net margin of 14.14% and a return on equity of 6.54%. During the same period in the previous year, the company posted $0.29 EPS. Equities analysts anticipate that First of Long Island will post 0.8 EPS for the current fiscal year.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a yield of 7.66%. First of Long Island’s dividend payout ratio (DPR) is 77.78%.

Institutional Trading of First of Long Island

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after purchasing an additional 8,109 shares during the period. ProShare Advisors LLC increased its position in First of Long Island by 8.2% during the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after purchasing an additional 51,872 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of First of Long Island by 107.6% in the 3rd quarter. AQR Capital Management LLC now owns 396,994 shares of the bank’s stock valued at $4,569,000 after purchasing an additional 205,741 shares during the last quarter. rhino investment partners Inc acquired a new stake in First of Long Island during the fourth quarter worth about $3,522,000. Finally, Anchor Capital Advisors LLC lifted its stake in shares of First of Long Island by 15.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 155,024 shares of the bank’s stock valued at $1,719,000 after purchasing an additional 20,569 shares in the last quarter. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.