First of Long Island (NASDAQ:FLIC) Upgraded at StockNews.com

StockNews.com upgraded shares of First of Long Island (NASDAQ:FLICFree Report) from a sell rating to a hold rating in a research note published on Saturday morning.

First of Long Island Stock Performance

NASDAQ FLIC opened at $11.53 on Friday. The company has a market cap of $260.46 million, a P/E ratio of 9.85 and a beta of 0.67. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day moving average of $12.65 and a two-hundred day moving average of $12.24. First of Long Island has a 1-year low of $8.79 and a 1-year high of $17.72.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 7.29%. The ex-dividend date was Friday, December 29th. First of Long Island’s payout ratio is 71.79%.

Institutional Investors Weigh In On First of Long Island

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in First of Long Island by 1.7% in the third quarter. BlackRock Inc. now owns 1,862,010 shares of the bank’s stock valued at $32,100,000 after buying an additional 30,873 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in First of Long Island by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,151,556 shares of the bank’s stock valued at $15,546,000 after buying an additional 98,650 shares during the last quarter. Vanguard Group Inc. lifted its stake in First of Long Island by 7.2% in the third quarter. Vanguard Group Inc. now owns 1,095,597 shares of the bank’s stock valued at $18,888,000 after buying an additional 73,278 shares during the last quarter. Renaissance Technologies LLC lifted its stake in First of Long Island by 5.0% in the first quarter. Renaissance Technologies LLC now owns 690,781 shares of the bank’s stock valued at $13,443,000 after buying an additional 32,900 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of First of Long Island in the second quarter valued at approximately $8,053,000. Hedge funds and other institutional investors own 52.16% of the company’s stock.

About First of Long Island

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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, holiday club, and individual retirement accounts.

Further Reading

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