First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note published on Tuesday morning. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Stock Down 1.1 %

FLIC opened at $12.32 on Tuesday. First of Long Island has a one year low of $9.30 and a one year high of $15.03. 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 stock’s fifty day moving average is $12.53 and its 200-day moving average is $12.97. The company has a market capitalization of $277.77 million, a PE ratio of 16.43 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date was Tuesday, December 31st. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of First of Long Island by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank’s stock worth $13,485,000 after purchasing an additional 55,710 shares during the period. Wellington Management Group LLP raised its position in shares of First of Long Island by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock worth $7,386,000 after purchasing an additional 212,216 shares during the period. Renaissance Technologies LLC raised its position in First of Long Island by 3.6% during the fourth quarter. Renaissance Technologies LLC now owns 616,050 shares of the bank’s stock valued at $7,195,000 after buying an additional 21,200 shares during the period. State Street Corp raised its position in First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after buying an additional 16,456 shares during the period. Finally, Geode Capital Management LLC raised its position in First of Long Island by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 504,859 shares of the bank’s stock valued at $5,898,000 after buying an additional 3,978 shares during the period. 48.33% of the stock is 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.