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

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

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $12.16 on Friday. The firm’s 50 day moving average price is $13.61 and its 200-day moving average price is $12.45. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $274.14 million, a PE ratio of 13.82 and a beta of 0.71. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03.

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Tuesday, December 31st. First of Long Island’s payout ratio is 95.45%.

Hedge Funds Weigh In On First of Long Island

Institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after buying an additional 1,950 shares in the last quarter. SG Americas Securities LLC purchased a new position in First of Long Island during the third quarter valued at approximately $118,000. Evoke Wealth LLC bought a new position in shares of First of Long Island in the second quarter worth approximately $103,000. CWM LLC increased its stake in shares of First of Long Island by 87.8% in the third quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of First of Long Island during the 3rd quarter valued at $212,000. 48.33% of the stock is owned by institutional investors.

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.