First of Long Island (NASDAQ:FLIC) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a report published on Wednesday. The firm issued a hold rating on the bank’s stock.

First of Long Island Stock Performance

NASDAQ:FLIC opened at $11.85 on Wednesday. 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 firm has a market capitalization of $267.10 million, a price-to-earnings ratio of 13.47 and a beta of 0.74. The company’s 50-day moving average is $13.15 and its two-hundred day moving average is $12.67. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were issued a $0.21 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 7.09%. First of Long Island’s payout ratio is 95.46%.

Institutional Investors Weigh In On First of Long Island

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares during the period. Evoke Wealth LLC purchased a new stake in First of Long Island during the 2nd quarter worth approximately $103,000. SG Americas Securities LLC purchased a new stake in First of Long Island during the 3rd quarter worth approximately $118,000. CWM LLC increased its stake in First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after buying an additional 6,856 shares during the period. Finally, Marshall Wace LLP purchased a new stake in First of Long Island during the 2nd quarter worth approximately $209,000. 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.