First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $12.29 on Friday. The business has a 50-day moving average price of $12.69 and a two-hundred day moving average price of $12.91. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $278.18 million, a P/E ratio of 16.39 and a beta of 0.75.

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

First of Long Island Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 6.83%. First of Long Island’s payout ratio is 112.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in First of Long Island during the third quarter worth about $5,407,000. ABC Arbitrage SA acquired a new position in shares of First of Long Island in the fourth quarter valued at approximately $4,545,000. Segall Bryant & Hamill LLC purchased a new stake in First of Long Island during the 4th quarter worth approximately $1,856,000. Credit Industriel ET Commercial acquired a new stake in First of Long Island during the 4th quarter worth approximately $1,180,000. Finally, Millennium Management LLC boosted its position in First of Long Island by 79.9% in the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock valued at $1,809,000 after buying an additional 68,807 shares during the period. 48.33% of the stock is currently owned by hedge funds and other institutional investors.

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.