First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods lifted their target price on 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

FLIC stock opened at $14.42 on Wednesday. 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 firm has a market cap of $325.03 million, a PE ratio of 16.39 and a beta of 0.68. The business has a 50 day moving average of $13.23 and a 200-day moving average of $11.89. First of Long Island has a 12-month low of $9.30 and a 12-month high of $14.67.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 5.83%. First of Long Island’s payout ratio is currently 95.46%.

Insider Buying and Selling

In related news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This trade represents a 97.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. Rhumbline Advisers lifted 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 valued at $335,000 after buying an additional 1,231 shares in the last quarter. FMR LLC lifted its position in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of First of Long Island by 13.0% in the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after acquiring an additional 2,500 shares during the period. Empowered Funds LLC grew its position in shares of First of Long Island by 5.4% in the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of 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 valued at $161,000 after purchasing an additional 3,570 shares during the period. Institutional investors own 48.33% of the company’s stock.

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.