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

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued to investors on Tuesday. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods upgraded First of Long Island from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st.

First of Long Island Stock Performance

Shares of NASDAQ FLIC opened at $11.65 on Tuesday. The business has a fifty day simple moving average of $11.79 and a 200 day simple moving average of $12.63. 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 has a market capitalization of $263.70 million, a price-to-earnings ratio of 15.53 and a beta of 0.69. First of Long Island has a one year low of $9.30 and a one year high of $15.03.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Wednesday, April 30th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $21.54 million during the quarter, compared to analyst estimates of $21.89 million. 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 was paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.84 annualized dividend and a yield of 7.21%. First of Long Island’s dividend payout ratio is currently 112.00%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in shares of First of Long Island by 73.1% in the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after buying an additional 24,399 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of First of Long Island in the fourth quarter valued at $169,000. Proficio Capital Partners LLC acquired a new stake in shares of First of Long Island in the fourth quarter valued at $165,000. 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 valued at $712,000 after buying an additional 2,876 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in shares of First of Long Island in the fourth quarter valued at $4,545,000. 48.33% of the stock is currently 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.