First of Long Island (NASDAQ:FLIC) Coverage Initiated by 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.

First of Long Island Trading Down 3.0 %

Shares of FLIC stock opened at $11.50 on Tuesday. 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 stock has a market capitalization of $259.26 million, a P/E ratio of 13.07 and a beta of 0.74. The firm’s 50 day moving average is $13.34 and its 200 day moving average is $12.62.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Tuesday, December 31st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date is Tuesday, December 31st. First of Long Island’s dividend payout ratio (DPR) is presently 95.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of First of Long Island by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after purchasing an additional 1,231 shares during the period. FMR LLC raised its position in First of Long Island by 124.0% in the third 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. Sei Investments Co. boosted its stake in shares of First of Long Island by 13.0% during the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after acquiring an additional 2,500 shares during the last quarter. Empowered Funds LLC grew its position in shares of First of Long Island by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after acquiring an additional 2,948 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of First of Long Island by 14.9% in the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock worth $295,000 after purchasing an additional 3,810 shares in the last quarter. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.