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

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

First of Long Island Stock Performance

Shares of FLIC opened at $11.85 on Monday. The stock has a 50 day moving average of $13.47 and a 200 day moving average of $12.53. 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 has a 12 month low of $9.30 and a 12 month high of $15.03. The company has a market capitalization of $267.15 million, a price-to-earnings ratio of 13.47 and a beta of 0.71.

First of Long Island Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a yield of 7.09%. First of Long Island’s dividend payout ratio (DPR) is presently 95.45%.

Institutional Investors Weigh In On First of Long Island

Several large investors have recently modified their holdings of FLIC. FMR LLC grew 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 during the period. Evoke Wealth LLC bought a new position in shares of First of Long Island in the second quarter worth $103,000. SG Americas Securities LLC purchased a new stake in First of Long Island during the 3rd quarter worth about $118,000. CWM LLC boosted its stake in First of Long Island by 87.8% in the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of First of Long Island in the second quarter worth about $209,000. Hedge funds and other institutional investors 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.