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

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

First of Long Island Price Performance

FLIC stock opened at $11.85 on Monday. The company has a market capitalization of $267.15 million, a P/E ratio of 13.47 and a beta of 0.71. The company has a fifty day moving average price of $13.47 and a 200-day moving average price of $12.53. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 7.09%. First of Long Island’s payout ratio is 95.45%.

Institutional Investors Weigh In On First of Long Island

Large investors have recently modified their holdings of the company. Barclays PLC boosted its position in shares of First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after purchasing an additional 24,399 shares in the last quarter. Geode Capital Management LLC increased its stake in First of Long Island by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock valued at $6,447,000 after purchasing an additional 14,736 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of First of Long Island in the third quarter valued at $5,407,000. State Street Corp raised its holdings in shares of First of Long Island by 3.4% in the 3rd 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 during the last quarter. Finally, Stifel Financial Corp boosted its stake in First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock valued at $746,000 after purchasing an additional 4,716 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.