First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

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

First of Long Island Price Performance

FLIC stock opened at $14.21 on Friday. The firm has a 50 day moving average of $13.55 and a 200-day moving average of $12.19. 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 company has a market cap of $320.29 million, a price-to-earnings ratio of 16.15 and a beta of 0.71.

First of Long Island Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were given a dividend of $0.21 per share. The ex-dividend date was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.91%. First of Long Island’s payout ratio is 95.46%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in First of Long Island by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after acquiring an additional 1,231 shares during the period. FMR LLC grew its stake in First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares during the period. Sei Investments Co. grew its stake in First of Long Island by 13.0% in the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after acquiring an additional 2,500 shares during the period. Empowered Funds LLC grew its stake in First of Long Island by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after acquiring an additional 2,948 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of First of Long Island by 14.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock valued at $295,000 after buying an additional 3,810 shares during the period. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.