First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

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

First of Long Island Price Performance

NASDAQ FLIC opened at $12.29 on Friday. The stock has a market capitalization of $278.18 million, a price-to-earnings ratio of 16.39 and a beta of 0.75. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. 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’s fifty day moving average price is $12.69 and its 200-day moving average price is $12.91.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 24th. This represents a $0.84 dividend on an annualized basis and a yield of 6.83%. First of Long Island’s dividend payout ratio is currently 112.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLIC. 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 worth $45,000 after buying an additional 1,950 shares during the period. Janney Montgomery Scott LLC purchased a new stake in First of Long Island in the 4th quarter worth approximately $126,000. Wealth Enhancement Advisory Services LLC bought a new stake in First of Long Island during the 4th quarter worth approximately $126,000. Algert Global LLC purchased a new position in First of Long Island during the fourth quarter valued at approximately $134,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of First of Long Island in the fourth quarter worth approximately $136,000. 48.33% of the stock is currently owned by 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.