First of Long Island (NASDAQ:FLIC) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of First of Long Island (NASDAQ:FLICGet Rating) from a hold rating to a buy rating in a research note released on Tuesday morning.

Separately, Piper Sandler cut First of Long Island from an overweight rating to a neutral rating in a report on Friday, April 29th.

First of Long Island Price Performance

NASDAQ FLIC opened at $18.94 on Tuesday. First of Long Island has a one year low of $16.51 and a one year high of $22.95. The stock has a 50-day moving average of $18.12 and a 200 day moving average of $19.46. The company has a market capitalization of $437.99 million, a price-to-earnings ratio of 9.86 and a beta of 0.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91.

First of Long Island (NASDAQ:FLICGet Rating) last released its quarterly earnings results on Thursday, July 28th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. The business had revenue of $32.72 million during the quarter, compared to the consensus estimate of $30.90 million. First of Long Island had a return on equity of 11.04% and a net margin of 32.72%. On average, sell-side analysts forecast that First of Long Island will post 2.07 EPS for the current year.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Thursday, July 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.22%. First of Long Island’s dividend payout ratio is currently 41.67%.

Institutional Trading of First of Long Island

Large investors have recently bought and sold shares of the stock. Blair William & Co. IL purchased a new stake in shares of First of Long Island in the 4th quarter valued at $1,448,000. Renaissance Technologies LLC boosted its holdings in First of Long Island by 5.0% in the 1st quarter. Renaissance Technologies LLC now owns 690,781 shares of the bank’s stock worth $13,443,000 after buying an additional 32,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First of Long Island by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 972,315 shares of the bank’s stock worth $18,922,000 after buying an additional 28,512 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in First of Long Island by 33.1% in the 1st quarter. Acadian Asset Management LLC now owns 101,637 shares of the bank’s stock worth $1,975,000 after buying an additional 25,280 shares during the last quarter. Finally, State Street Corp boosted its holdings in First of Long Island by 5.2% in the 1st quarter. State Street Corp now owns 492,424 shares of the bank’s stock worth $9,583,000 after buying an additional 24,254 shares during the last quarter. Hedge funds and other institutional investors own 65.23% of the company’s stock.

About First of Long Island

(Get Rating)

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, holiday club, and individual retirement accounts.

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