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

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

Separately, Keefe, Bruyette & Woods increased their target price on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First of Long Island Stock Performance

FLIC opened at $12.72 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The company’s fifty day moving average price is $12.85 and its two-hundred day moving average price is $11.47. First of Long Island has a 1-year low of $9.30 and a 1-year high of $13.95. The company has a market cap of $286.40 million, a price-to-earnings ratio of 11.78 and a beta of 0.69.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.60%. First of Long Island’s dividend payout ratio is currently 77.78%.

Insider Activity at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares in the company, valued at $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. Vanguard Group Inc. boosted 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 acquiring an additional 8,109 shares during the period. ProShare Advisors LLC boosted its position in shares of First of Long Island by 8.2% in the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares during the period. Renaissance Technologies LLC boosted its position in shares of First of Long Island by 1.7% in the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after acquiring an additional 10,400 shares during the period. AQR Capital Management LLC boosted its position in shares of First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the period. 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.