StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC – Free Report) in a research report released on Monday. The firm issued a hold rating on the bank’s stock.
Separately, Keefe, Bruyette & Woods lifted their target price on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.
Get Our Latest Stock Analysis on FLIC
First of Long Island Price Performance
First of Long Island Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s payout ratio is 95.46%.
Insider Activity at First of Long Island
In other news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction that occurred on 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 5.67% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its stake in shares of First of Long Island by 57.3% during the first quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after purchasing an additional 7,927 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of First of Long Island in the 1st quarter worth $132,000. John G Ullman & Associates Inc. acquired a new position in shares of First of Long Island during the first quarter worth about $226,000. Empowered Funds LLC lifted its position in First of Long Island by 8.1% in the first quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after purchasing an additional 3,850 shares during the period. Finally, Anchor Capital Advisors LLC lifted its position in First of Long Island by 15.3% in the first 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 during the period. 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.
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