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

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

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

First of Long Island Stock Performance

Shares of NASDAQ FLIC opened at $13.92 on Tuesday. First of Long Island has a 12 month low of $9.30 and a 12 month high of $14.67. The company has a 50-day simple moving average of $13.08 and a 200-day simple moving average of $11.75. The company has a market cap of $313.76 million, a PE ratio of 15.82 and a beta of 0.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 6.03%. First of Long Island’s payout ratio is 95.46%.

Insiders Place Their Bets

In other news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The trade was a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLIC. EntryPoint Capital LLC acquired a new position in shares of First of Long Island during the first quarter worth $42,000. FMR LLC raised its holdings in First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares in the last quarter. CWM LLC raised its holdings in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after acquiring an additional 5,819 shares in the last quarter. Evoke Wealth LLC acquired a new stake in First of Long Island in the second quarter valued at $103,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in First of Long Island in the first quarter valued at $105,000. 48.33% of the stock is owned by institutional investors and hedge funds.

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.