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

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

First of Long Island Trading Up 0.2 %

Shares of FLIC opened at $12.16 on Friday. 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 firm’s 50-day moving average price is $13.61 and its 200-day moving average price is $12.45. The firm has a market capitalization of $274.14 million, a price-to-earnings ratio of 13.82 and a beta of 0.71.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date is Tuesday, December 31st. First of Long Island’s payout ratio is presently 95.45%.

Hedge Funds Weigh In On First of Long Island

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position in shares of First of Long Island by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after buying an additional 1,231 shares during the period. FMR LLC increased its stake in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of First of Long Island by 13.0% during the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock valued at $217,000 after purchasing an additional 2,500 shares during the last quarter. Empowered Funds LLC boosted its position in shares of First of Long Island by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of First of Long Island by 14.9% in the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock worth $295,000 after buying an additional 3,810 shares during the last quarter. Institutional investors own 48.33% of the company’s stock.

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.