First of Long Island (NASDAQ:FLIC) Receives New Coverage from Analysts at StockNews.com

by · The Markets Daily

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

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

Check Out Our Latest Stock Analysis on FLIC

First of Long Island Stock Performance

NASDAQ FLIC opened at $13.51 on Tuesday. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $13.95. The stock has a market cap of $304.19 million, a PE ratio of 12.51 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s fifty day moving average price is $12.41 and its two-hundred day moving average price is $11.03.

First of Long Island (NASDAQ:FLIC – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $45.41 million for the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same quarter in the previous year, the company posted $0.31 EPS.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were issued a $0.21 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a yield of 6.22%. First of Long Island’s payout ratio is 77.78%.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 in the company, valued at approximately $43,853.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.33% of the stock is owned by corporate insiders.

Institutional Trading of First of Long Island

Several institutional investors have recently added to or reduced their stakes in FLIC. rhino investment partners Inc acquired a new position in First of Long Island in the fourth quarter valued at approximately $3,522,000. ProShare Advisors LLC lifted its position in shares of First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after acquiring an additional 51,872 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in First of Long Island by 32.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after purchasing an additional 3,570 shares during the period. Vanguard Group Inc. increased its stake in First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after purchasing an additional 8,109 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of First of Long Island by 8.1% during the first 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 period. 48.33% of the stock is currently owned by institutional investors.

First of Long Island Company Profile

(Get Free Report)

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.

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