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 report released on Thursday. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Stock Performance

Shares of FLIC stock opened at $12.07 on Thursday. The company’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $12.92. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The firm has a market cap of $273.20 million, a PE ratio of 16.09 and a beta of 0.75. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data 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 return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 6.96%. First of Long Island’s payout ratio is 112.00%.

Hedge Funds Weigh In On First of Long Island

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of First of Long Island in the fourth quarter valued at $126,000. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island in the fourth quarter valued at $126,000. Algert Global LLC acquired a new position in shares of First of Long Island in the fourth quarter valued at $134,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of First of Long Island in the fourth quarter valued at $136,000. 48.33% of the stock is currently 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.