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 report published on Wednesday. The firm issued a hold rating on the bank’s stock.

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $12.00 on Wednesday. The firm has a market cap of $270.55 million, a PE ratio of 16.00 and a beta of 0.75. The firm’s fifty day moving average is $12.55 and its 200-day moving average is $12.95. 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 (NASDAQ:FLIC) last announced its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 24th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Monday, March 24th. First of Long Island’s dividend payout ratio (DPR) is currently 112.00%.

Institutional Investors Weigh In On First of Long Island

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in First of Long Island by 124.0% in the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,950 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island during the fourth quarter valued at about $126,000. Algert Global LLC acquired a new position in shares of First of Long Island during the fourth quarter valued at about $134,000. Sherbrooke Park Advisers LLC acquired a new position in shares of First of Long Island during the fourth quarter valued at about $136,000. Finally, SG Americas Securities LLC boosted its holdings in First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after purchasing an additional 2,614 shares during the last quarter. 48.33% of the stock is owned by institutional investors.

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.