StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

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

First of Long Island Trading Down 0.1 %

FLIC opened at $11.90 on Thursday. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. The company has a fifty day moving average of $12.84 and a 200-day moving average of $12.75. The stock has a market cap of $268.23 million, a PE ratio of 13.52 and a beta of 0.74. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Tuesday, December 31st. First of Long Island’s dividend payout ratio (DPR) is presently 95.46%.

Institutional Investors Weigh In On First of Long Island

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC acquired a new position in First of Long Island in the fourth quarter valued at approximately $126,000. SG Americas Securities LLC increased its stake in shares of 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 acquiring an additional 2,614 shares in the last quarter. Barclays PLC lifted its position in shares of First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after acquiring an additional 24,399 shares during the period. Geode Capital Management LLC boosted its stake in First of Long Island by 3.0% during the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock worth $6,447,000 after acquiring an additional 14,736 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in First of Long Island during the third quarter worth $5,407,000. 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.