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

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

First of Long Island Trading Up 0.1 %

Shares of NASDAQ FLIC opened at $11.51 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average price is $13.31 and its two-hundred day moving average price is $12.61. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The stock has a market capitalization of $259.48 million, a P/E ratio of 13.08 and a beta of 0.74.

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date was Tuesday, December 31st. First of Long Island’s dividend payout ratio is presently 95.45%.

Institutional Investors Weigh In On First of Long Island

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP bought a new position in shares of First of Long Island during the third quarter worth about $5,407,000. AQR Capital Management LLC increased its stake in shares of First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after purchasing an additional 321,032 shares during the period. American Century Companies Inc. raised its holdings in shares of First of Long Island by 17.3% during the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after buying an additional 51,792 shares during the last quarter. Barclays PLC boosted its position in shares of First of Long Island by 73.1% during the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock worth $743,000 after buying an additional 24,399 shares during the period. Finally, Squarepoint Ops LLC bought a new position in First of Long Island in the 2nd quarter worth approximately $230,000. Institutional investors own 48.33% of the company’s stock.

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.