First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $13.77 on Friday. The company has a market cap of $310.38 million, a PE ratio of 18.36 and a beta of 0.75. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The firm has a 50-day simple moving average of $12.57 and a 200 day simple moving average of $12.86. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend was Tuesday, December 31st. First of Long Island’s dividend payout ratio (DPR) is 112.00%.

Institutional Trading of First of Long Island

A number of large investors have recently modified their holdings of FLIC. Wellington Management Group LLP bought a new position in First of Long Island in the 3rd quarter worth about $5,407,000. ABC Arbitrage SA bought a new position in First of Long Island in the 4th quarter worth approximately $4,545,000. Bank of New York Mellon Corp grew its holdings in First of Long Island by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 205,435 shares of the bank’s stock worth $2,399,000 after buying an additional 44,857 shares in the last quarter. Barclays PLC increased its position in First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after acquiring an additional 24,399 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in First of Long Island during the 2nd quarter valued at $230,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

First of Long Island Company Profile

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.