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

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report sent to investors on Monday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised 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 Price Performance

NASDAQ FLIC opened at $11.40 on Monday. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. The stock’s 50-day moving average price is $12.05 and its two-hundred day moving average price is $12.70. The company has a market cap of $258.04 million, a PE ratio of 15.20 and a beta of 0.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate 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, April 3rd. Shareholders of record on Monday, March 24th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend was Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is currently 112.00%.

Hedge Funds Weigh In On First of Long Island

A number of hedge funds have recently modified their holdings of FLIC. GAMMA Investing LLC increased its position in First of Long Island by 2,711.4% in the 1st quarter. GAMMA Investing LLC now owns 2,952 shares of the bank’s stock worth $36,000 after purchasing an additional 2,847 shares during the last quarter. FMR LLC increased its holdings in First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in First of Long Island during the fourth quarter valued at approximately $126,000. Janney Montgomery Scott LLC acquired a new stake in First of Long Island in the fourth quarter valued at approximately $126,000. Finally, Algert Global LLC bought a new stake in First of Long Island in the fourth quarter worth approximately $134,000. 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.