First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note published on Tuesday morning. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Trading Up 0.1 %

Shares of FLIC stock opened at $11.51 on Tuesday. 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 50-day simple moving average of $13.31 and a 200 day simple moving average of $12.61. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The stock has a market capitalization of $259.48 million, a P/E ratio of 13.08 and a beta of 0.74.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Tuesday, December 31st were issued a $0.21 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.30%. First of Long Island’s payout ratio is currently 95.45%.

Institutional Trading of First of Long Island

A number of large investors have recently added to or reduced their stakes in FLIC. Barclays PLC lifted its holdings in shares of First of Long Island by 73.1% during the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after purchasing an additional 24,399 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $6,447,000 after buying an additional 14,736 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of First of Long Island in the third quarter worth about $5,407,000. State Street Corp increased its position in shares of First of Long Island by 3.4% in the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after acquiring an additional 16,456 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of First of Long Island by 8.9% in the third quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock worth $746,000 after acquiring an additional 4,716 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.