First of Long Island (NASDAQ:FLIC) Share Price Crosses Above 200 Day Moving Average – What’s Next?

The First of Long Island Co. (NASDAQ:FLIC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.66 and traded as high as $14.40. First of Long Island shares last traded at $14.32, with a volume of 139,655 shares.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FLIC. Keefe, Bruyette & Woods upped their price target on 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. StockNews.com began coverage on First of Long Island in a report on Tuesday. They issued a “hold” rating on the stock.

First of Long Island Stock Down 1.0 %

The business’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $11.70. The company has a market capitalization of $317.36 million, a PE ratio of 16.00 and a beta of 0.68. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given 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 5.97%. First of Long Island’s dividend payout ratio (DPR) is presently 95.46%.

Insiders Place Their Bets

In related news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.33% of the company’s stock.

Institutional Investors Weigh In On First of Long Island

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of First of Long Island during the 1st quarter valued at about $132,000. Empowered Funds LLC grew its stake in shares of First of Long Island by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after buying an additional 3,850 shares in the last quarter. ProShare Advisors LLC increased its holdings in First of Long Island by 8.2% in the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after buying an additional 51,872 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in First of Long Island during the first quarter valued at approximately $204,000. Institutional investors and hedge funds 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.