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

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

First of Long Island Price Performance

Shares of FLIC opened at $13.00 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $293.02 million, a PE ratio of 14.77 and a beta of 0.74. The firm’s 50 day moving average price is $12.70 and its 200 day moving average price is $12.79. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 11.15% and a return on equity of 5.49%.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date was Tuesday, December 31st. First of Long Island’s dividend payout ratio is 95.46%.

Institutional Investors Weigh In On First of Long Island

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ABC Arbitrage SA acquired a new position in First of Long Island during the 4th quarter worth $4,545,000. Empowered Funds LLC increased its stake in shares of First of Long Island by 5.0% in the fourth quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock worth $712,000 after purchasing an additional 2,876 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island during the 4th quarter worth about $126,000. SG Americas Securities LLC boosted its stake in 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 valued at $138,000 after purchasing an additional 2,614 shares during the period. Finally, Barclays PLC grew its holdings in First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after buying an additional 24,399 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.