StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a report published on Saturday. The firm issued a hold rating on the bank’s stock.

First of Long Island Price Performance

NASDAQ FLIC opened at $13.77 on Friday. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03. The firm has a market capitalization of $310.38 million, a PE ratio of 18.36 and a beta of 0.75. The company’s 50 day simple moving average is $12.57 and its 200 day simple moving average is $12.86. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98.

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

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a yield of 6.10%. First of Long Island’s payout ratio is presently 112.00%.

Institutional Trading of First of Long Island

Several hedge funds and other institutional investors have recently modified their holdings of the company. Anchor Capital Advisors LLC lifted its stake in First of Long Island by 0.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock valued at $2,058,000 after acquiring an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in First of Long Island by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after acquiring an additional 1,271 shares during the period. FMR LLC grew its position 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 during the last quarter. Sei Investments Co. increased its stake in shares of First of Long Island by 13.0% in the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after purchasing an additional 2,500 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after purchasing an additional 2,614 shares during the last quarter. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

First of Long Island Company Profile

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.