StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

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

First of Long Island Stock Down 1.1 %

NASDAQ:FLIC opened at $12.32 on Tuesday. The firm has a market capitalization of $277.77 million, a price-to-earnings ratio of 16.43 and a beta of 0.75. 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 business’s fifty day moving average price is $12.53 and its 200 day moving average price is $12.97.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). 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 company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were paid 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 yield of 6.82%. First of Long Island’s dividend payout ratio (DPR) is currently 112.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLIC. Empowered Funds LLC grew its stake in First of Long Island by 5.4% in the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares in the last quarter. Quest Partners LLC purchased a new position in First of Long Island in the third quarter valued at about $212,000. FMR LLC boosted its stake in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock worth $746,000 after acquiring an additional 4,716 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after acquiring an additional 16,456 shares in the last quarter. Hedge funds and other 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.