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

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

Separately, Keefe, Bruyette & Woods upgraded shares of First of Long Island from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $16.04 to $16.56 in a research note on Tuesday, April 1st.

First of Long Island Stock Down 0.7 %

FLIC stock opened at $10.87 on Monday. The company has a 50 day moving average of $12.10 and a two-hundred day moving average of $12.71. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The company has a market cap of $246.04 million, a price-to-earnings ratio of 14.49 and a beta of 0.69.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Monday, March 24th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $0.84 annualized dividend and a dividend yield of 7.73%. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

Institutional Investors Weigh In On First of Long Island

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC raised its holdings in First of Long Island by 0.5% in the 4th quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock worth $2,058,000 after acquiring an additional 877 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of First of Long Island by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after acquiring an additional 1,271 shares during the period. Janney Montgomery Scott LLC raised its position in shares of First of Long Island by 15.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,455 shares of the bank’s stock valued at $154,000 after buying an additional 1,634 shares during the last quarter. FMR LLC lifted its position 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 worth $45,000 after acquiring an additional 1,950 shares during the period. Finally, SG Americas Securities LLC increased its holdings in First of Long Island by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after buying an additional 2,614 shares during the period. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.