First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

First of Long Island Stock Performance

FLIC opened at $12.81 on Monday. The business has a fifty day simple moving average of $12.47 and a 200-day simple moving average of $12.94. The firm has a market cap of $288.81 million, a PE ratio of 17.08 and a beta of 0.75. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week 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.

First of Long Island (NASDAQ:FLIC) last announced its 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend was Tuesday, December 31st. First of Long Island’s payout ratio is currently 112.00%.

Institutional Trading of First of Long Island

A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in First of Long Island by 124.0% in the 3rd 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. Janney Montgomery Scott LLC bought a new stake in shares of First of Long Island during the fourth quarter valued at approximately $126,000. Algert Global LLC bought a new stake in First of Long Island in the 4th quarter valued at $134,000. Sherbrooke Park Advisers LLC acquired a new position in First of Long Island in the fourth quarter worth about $136,000. Finally, SG Americas Securities LLC raised its holdings in shares of First of Long Island by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after buying an additional 2,614 shares in the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.