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

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

First of Long Island Trading Down 0.1 %

Shares of First of Long Island stock opened at $11.90 on Thursday. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. The company has a market cap of $268.23 million, a price-to-earnings ratio of 13.52 and a beta of 0.74. The company’s fifty day simple moving average is $12.84 and its 200-day simple moving average is $12.75. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.06%. First of Long Island’s payout ratio is 95.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in shares of First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after acquiring an additional 51,792 shares during the period. State Street Corp raised its position in First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after purchasing an additional 16,456 shares in the last quarter. AQR Capital Management LLC lifted its stake in First of Long Island by 272.6% during the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after purchasing an additional 321,032 shares during the last quarter. FMR LLC boosted its holdings in shares of First of Long Island by 124.0% in the 3rd 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. Finally, Wellington Management Group LLP bought a new position in shares of First of Long Island in the 3rd quarter valued at $5,407,000. Institutional investors and hedge funds 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.