First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price target 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 Up 0.6 %

Shares of First of Long Island stock opened at $14.10 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average of $13.04 and a 200-day moving average of $11.70. The company has a market capitalization of $317.81 million, a PE ratio of 15.93 and a beta of 0.68. First of Long Island has a 1-year low of $9.30 and a 1-year high of $14.67.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date was Friday, October 11th. First of Long Island’s dividend payout ratio is currently 95.46%.

Insiders Place Their Bets

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the transaction, the director now owns 3,453 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. 6.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First of Long Island

Large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in shares of First of Long Island by 3.8% during the second quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock valued at $335,000 after acquiring an additional 1,231 shares during the period. FMR LLC lifted its holdings 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 valued at $45,000 after buying an additional 1,950 shares during the last quarter. Sei Investments Co. increased 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 purchasing an additional 2,500 shares during the last quarter. Empowered Funds LLC increased its holdings 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 last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in First of Long Island by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after purchasing an additional 3,570 shares during the last quarter. 48.33% of the stock is owned by institutional investors.

First of Long Island Company Profile

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.