First of Long Island (NASDAQ:FLIC) Share Price Crosses Above 200 Day Moving Average of $10.89

Shares of The First of Long Island Co. (NASDAQ:FLIC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.89 and traded as high as $12.76. First of Long Island shares last traded at $12.67, with a volume of 69,598 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of First of Long Island from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Keefe, Bruyette & Woods upped their price target on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Stock Performance

The company has a market capitalization of $285.28 million, a price-to-earnings ratio of 11.73 and a beta of 0.69. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. The firm has a 50-day simple moving average of $11.79 and a two-hundred day simple moving average of $10.89.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $45.41 million for the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts forecast that The First of Long Island Co. will post 0.87 earnings per share for the current fiscal year.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.63%. First of Long Island’s dividend payout ratio is currently 77.78%.

Hedge Funds Weigh In On First of Long Island

Several institutional investors have recently bought and sold shares of FLIC. Rhumbline Advisers boosted its stake in shares of First of Long Island by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after acquiring an additional 1,231 shares in the last quarter. Sei Investments Co. lifted its holdings in First of Long Island by 13.0% in the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after purchasing an additional 2,500 shares during the last quarter. Webster Bank N. A. bought a new stake in First of Long Island during the first quarter worth approximately $28,000. O Shaughnessy Asset Management LLC grew its holdings in First of Long Island by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after purchasing an additional 3,570 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of First of Long Island by 14.9% in the second quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock valued at $295,000 after purchasing an additional 3,810 shares during the period. 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.