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

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

Separately, Keefe, Bruyette & Woods increased their price target on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First of Long Island Trading Up 0.2 %

Shares of NASDAQ:FLIC opened at $12.72 on Friday. First of Long Island has a 52-week low of $9.30 and a 52-week high of $13.95. The company has a market capitalization of $286.40 million, a P/E ratio of 11.78 and a beta of 0.69. The company has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $11.47. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97.

First of Long Island Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.60%. First of Long Island’s dividend payout ratio is presently 77.78%.

Insider Transactions at First of Long Island

In other 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 transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.33% of the company’s stock.

Institutional Investors Weigh In On First of Long Island

Several hedge funds have recently modified their holdings of FLIC. CWM LLC boosted its stake in shares of First of Long Island by 87.8% during the third quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after purchasing an additional 6,856 shares in the last quarter. SG Americas Securities LLC bought a new stake in First of Long Island during the 3rd quarter worth approximately $118,000. AQR Capital Management LLC boosted its stake in shares of First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after purchasing an additional 321,032 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of First of Long Island in the 2nd quarter valued at $230,000. Finally, Marshall Wace LLP bought a new stake in shares of First of Long Island in the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Company Profile

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.