First of Long Island (NASDAQ:FLIC) Receives New Coverage from Analysts at StockNews.com

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

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

First of Long Island Stock Up 1.3 %

Shares of FLIC stock opened at $12.91 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. First of Long Island has a one year low of $9.30 and a one year high of $13.95. The company’s fifty day moving average price is $12.56 and its 200-day moving average price is $11.18. The company has a market capitalization of $290.68 million, a price-to-earnings ratio of 11.95 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. The firm had revenue of $45.41 million during the quarter, compared to analysts’ expectations of $20.90 million. During the same quarter last year, the business posted $0.31 earnings per share.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 11th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.51%. First of Long Island’s dividend payout ratio is currently 77.78%.

Insider Activity

In other news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares in the company, valued at approximately $43,853.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.33% of the company’s stock.

Hedge Funds Weigh In On First of Long Island

Several hedge funds have recently bought and sold shares of FLIC. Quadrature Capital Ltd purchased a new stake in shares of First of Long Island during the fourth quarter valued at $144,000. Webster Bank N. A. purchased a new stake in First of Long Island in the 1st quarter valued at about $28,000. BNP Paribas Financial Markets grew its stake in First of Long Island by 57.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after acquiring an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in First of Long Island in the 1st quarter worth about $132,000. Finally, John G Ullman & Associates Inc. purchased a new position in shares of First of Long Island during the first quarter worth approximately $226,000. Institutional investors own 48.33% of the company’s stock.

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.