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

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note published on Tuesday morning. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Stock Down 3.0 %

NASDAQ FLIC opened at $11.50 on Tuesday. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market cap of $259.26 million, a PE ratio of 13.07 and a beta of 0.74. The stock’s 50 day moving average is $13.34 and its 200 day moving average is $12.62.

First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 7.30%. First of Long Island’s payout ratio is 95.45%.

Institutional Trading of First of Long Island

Several hedge funds have recently bought and sold shares of FLIC. Renaissance Technologies LLC increased its holdings in shares of First of Long Island by 1.7% in the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after purchasing an additional 10,400 shares during the last quarter. State Street Corp increased its stake in 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. Geode Capital Management LLC raised its holdings in shares of 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 worth $6,447,000 after acquiring an additional 14,736 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of First of Long Island during the 3rd quarter valued at approximately $5,407,000. Hedge funds and other 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.