StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued to investors on Friday. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Trading Down 1.8 %

Shares of First of Long Island stock opened at $12.29 on Friday. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. 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 business has a 50-day moving average price of $12.69 and a 200-day moving average price of $12.91. The firm has a market cap of $278.18 million, a price-to-earnings ratio of 16.39 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Monday, March 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend is Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is presently 112.00%.

Institutional Investors Weigh In On First of Long Island

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of First of Long Island by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock worth $7,386,000 after buying an additional 212,216 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in First of Long Island in the 4th quarter worth $126,000. Sherbrooke Park Advisers LLC purchased a new position in First of Long Island in the 4th quarter worth $136,000. Millennium Management LLC lifted its position in First of Long Island by 79.9% during the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after acquiring an additional 68,807 shares during the period. Finally, Focus Partners Wealth grew its stake in First of Long Island by 17.1% during the 4th quarter. Focus Partners Wealth now owns 34,288 shares of the bank’s stock valued at $400,000 after purchasing an additional 5,008 shares during the last quarter. 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.