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

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

Separately, Keefe, Bruyette & Woods increased their price target on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $14.57 on Monday. The firm has a market capitalization of $328.41 million, a P/E ratio of 16.56 and a beta of 0.68. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. First of Long Island has a 52 week low of $9.30 and a 52 week high of $14.67. The firm’s 50 day moving average is $12.90 and its two-hundred day moving average is $11.58.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 5.77%. First of Long Island’s dividend payout ratio (DPR) is currently 95.46%.

Insider Activity

In related news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of First of Long Island by 57.3% during the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after purchasing an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in First of Long Island during the first quarter worth about $132,000. John G Ullman & Associates Inc. purchased a new position in First of Long Island in the first quarter valued at about $226,000. Empowered Funds LLC lifted its position in shares of First of Long Island by 8.1% during the 1st quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after acquiring an additional 3,850 shares during the period. Finally, Anchor Capital Advisors LLC boosted its stake in shares of First of Long Island by 15.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 155,024 shares of the bank’s stock worth $1,719,000 after acquiring an additional 20,569 shares in the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

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.