First of Long Island (NASDAQ:FLIC) Coverage Initiated at StockNews.com

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

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

First of Long Island Price Performance

First of Long Island stock opened at $12.69 on Friday. First of Long Island has a 52 week low of $9.30 and a 52 week high of $13.95. The firm has a market capitalization of $285.73 million, a PE ratio of 11.75 and a beta of 0.69. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $12.84 and its 200 day simple moving average is $11.46.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 6.62%. First of Long Island’s dividend payout ratio (DPR) is currently 77.78%.

Insider Buying and Selling at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On First of Long Island

Large investors have recently modified their holdings of the company. CWM LLC grew its holdings in shares of First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares during the period. SG Americas Securities LLC acquired a new position in First of Long Island during the third quarter valued at approximately $118,000. AQR Capital Management LLC grew its stake in First of Long Island by 272.6% during the second 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. Squarepoint Ops LLC acquired a new stake in shares of First of Long Island in the second quarter worth $230,000. Finally, Marshall Wace LLP purchased a new position in shares of First of Long Island in the 2nd quarter valued at $209,000. 48.33% of the stock is currently owned by hedge funds and other 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.