First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of First of Long Island from $11.00 to $13.00 and gave the stock a market perform rating in a research report on Monday, July 29th.

First of Long Island Stock Performance

Shares of FLIC opened at $12.91 on Thursday. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95. The stock has a market capitalization of $290.68 million, a PE ratio of 11.95 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day simple moving average of $12.56 and a 200-day simple moving average of $11.18.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The company had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Friday, October 11th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.51%. The ex-dividend date is Friday, October 11th. First of Long Island’s payout ratio is 77.78%.

Insider Activity at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First of Long Island

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of First of Long Island by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after purchasing an additional 8,109 shares during the last quarter. ProShare Advisors LLC increased its position in First of Long Island by 8.2% during the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after buying an additional 51,872 shares during the period. Renaissance Technologies LLC lifted its stake in First of Long Island by 1.7% in the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after buying an additional 10,400 shares during the last quarter. AQR Capital Management LLC lifted its stake in First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after buying an additional 321,032 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the period. 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.