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

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report sent to investors on Sunday. The firm issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods raised their price target on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

First of Long Island Stock Down 0.9 %

Shares of NASDAQ:FLIC opened at $12.69 on Friday. The firm has a market capitalization of $285.73 million, a PE ratio of 11.75 and a beta of 0.69. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day moving average is $12.84 and its two-hundred day moving average is $11.46.

First of Long Island Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 6.62%. The ex-dividend date was Friday, October 11th. First of Long Island’s payout ratio is presently 77.78%.

Insider Transactions at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the sale, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of First of Long Island by 57.3% during the first quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after acquiring an additional 7,927 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of First of Long Island in the first quarter valued at about $132,000. John G Ullman & Associates Inc. acquired a new stake in shares of First of Long Island during the first quarter worth about $226,000. Empowered Funds LLC grew its stake in shares of First of Long Island by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after purchasing an additional 3,850 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its stake in shares of First of Long Island by 15.3% in the 1st quarter. Anchor Capital Advisors LLC now owns 155,024 shares of the bank’s stock valued at $1,719,000 after purchasing an additional 20,569 shares during the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

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.