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

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

Separately, Keefe, Bruyette & Woods increased 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 research report on Monday, July 29th.

First of Long Island Stock Performance

Shares of NASDAQ FLIC opened at $13.82 on Monday. The stock has a market cap of $311.50 million, a PE ratio of 15.70 and a beta of 0.68. First of Long Island has a 1 year low of $9.30 and a 1 year high of $14.67. The firm has a fifty day moving average price of $12.92 and a 200-day moving average price of $11.60. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98.

First of Long Island Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 6.08%. First of Long Island’s payout ratio is 95.46%.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First of Long Island

Several hedge funds have recently modified their holdings of FLIC. EntryPoint Capital LLC bought a new position in shares of First of Long Island in the 1st quarter worth $42,000. CWM LLC lifted its position in shares of First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after buying an additional 5,819 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First of Long Island in the 3rd quarter valued at about $118,000. Hillsdale Investment Management Inc. purchased a new position in shares of First of Long Island in the 1st quarter worth approximately $105,000. Finally, Evoke Wealth LLC purchased a new stake in First of Long Island during the second quarter valued at approximately $103,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

About First of Long Island

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.