StockNews.com Begins Coverage on First of Long Island (NASDAQ:FLIC)

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

First of Long Island Stock Performance

Shares of FLIC stock opened at $13.70 on Friday. 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’s fifty day moving average price is $13.65 and its 200-day moving average price is $12.30. The stock has a market cap of $308.85 million, a PE ratio of 15.57 and a beta of 0.71. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.13%. First of Long Island’s payout ratio is 95.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. Barclays PLC boosted its holdings in First of Long Island by 73.1% in the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock worth $743,000 after acquiring an additional 24,399 shares in the last quarter. Geode Capital Management LLC boosted its stake in First of Long Island by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock worth $6,447,000 after purchasing an additional 14,736 shares in the last quarter. Wellington Management Group LLP bought a new position in First of Long Island in the 3rd quarter worth about $5,407,000. State Street Corp grew its position in First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after purchasing an additional 16,456 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock valued at $746,000 after purchasing an additional 4,716 shares in the last quarter. Institutional investors 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.