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

by · The Markets Daily

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC – Free Report) in a research report report published on Wednesday morning. The firm issued a hold rating on the bank’s stock.

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

Read Our Latest Research Report on First of Long Island

First of Long Island Stock Performance

Shares of NASDAQ FLIC opened at $13.57 on Wednesday. The business’s 50-day simple moving average is $13.16 and its 200-day simple moving average is $11.84. 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 $14.67. The firm has a market cap of $305.92 million, a price-to-earnings ratio of 15.42 and a beta of 0.68.

First of Long Island Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio is currently 95.45%.

Insider Activity

In other news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This represents a 97.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On First of Long Island

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of First of Long Island during the third quarter valued at approximately $5,407,000. 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 in the last quarter. American Century Companies Inc. increased its stake in First of Long Island by 17.3% in the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares during the period. Barclays PLC lifted its stake in First of Long Island by 73.1% during the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock worth $743,000 after purchasing an additional 24,399 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in First of Long Island during the second quarter valued at approximately $230,000. 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.

Recommended Stories