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

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

First of Long Island Price Performance

FLIC stock opened at $12.78 on Monday. The firm has a 50 day moving average of $12.47 and a 200-day moving average of $12.93. The firm has a market capitalization of $288.14 million, a P/E ratio of 17.04 and a beta of 0.75. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate 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 firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.57%. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,950 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of First of Long Island during the 4th quarter valued at $126,000. Algert Global LLC bought a new stake in shares of First of Long Island during the 4th quarter worth $134,000. Sherbrooke Park Advisers LLC bought a new position in First of Long Island in the fourth quarter valued at $136,000. Finally, SG Americas Securities LLC raised its position in First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,614 shares in the last quarter. 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.