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

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

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

First of Long Island Stock Down 3.1 %

First of Long Island stock opened at $13.00 on Friday. The stock has a market cap of $292.71 million, a price-to-earnings ratio of 12.04 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 company’s 50-day moving average price is $12.77 and its two-hundred day moving average price is $11.37. First of Long Island has a 52 week low of $9.30 and a 52 week high of $13.95.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The company had revenue of $45.41 million for the quarter, compared to analysts’ expectations of $20.90 million. During the same quarter in the previous year, the company posted $0.31 EPS.

First of Long Island Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio is 77.78%.

Insider Activity

In other news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. raised its position in shares of First of Long Island by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the period. ProShare Advisors LLC raised its holdings in First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after buying an additional 51,872 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in First of Long Island by 32.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after buying an additional 3,570 shares during the period. AQR Capital Management LLC raised its holdings in First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after buying an additional 321,032 shares during the period. Finally, Vanguard Group Inc. raised its holdings in First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after buying an additional 8,109 shares during the period. 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.