First of Long Island (NASDAQ:FLIC) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

The First of Long Island Co. (NASDAQ:FLIC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.83 and traded as high as $13.91. First of Long Island shares last traded at $13.88, with a volume of 44,516 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLIC. StockNews.com assumed coverage on First of Long Island in a report on Wednesday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their target price on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Stock Up 3.4 %

The stock has a market capitalization of $316.24 million, a price-to-earnings ratio of 15.83 and a beta of 0.68. 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 fifty day moving average of $13.16 and a 200 day moving average of $11.84.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio (DPR) is presently 95.46%.

Insider Activity

In related news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This trade represents a 97.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FLIC. EntryPoint Capital LLC acquired a new stake in First of Long Island during the 1st quarter worth approximately $42,000. FMR LLC raised its stake in shares of First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares in the last quarter. CWM LLC boosted its holdings in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after purchasing an additional 5,819 shares during the period. Evoke Wealth LLC acquired a new position in First of Long Island during the 2nd quarter worth $103,000. Finally, SG Americas Securities LLC purchased a new stake in First of Long Island during the 3rd quarter worth about $118,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

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.