First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

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

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

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $14.42 on Wednesday. The company has a market cap of $325.03 million, a PE ratio of 16.14 and a beta of 0.68. 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 has a 52 week low of $9.30 and a 52 week high of $14.67. The business has a 50 day moving average price of $13.19 and a 200-day moving average price of $11.86.

First of Long Island Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 5.83%. First of Long Island’s dividend payout ratio (DPR) is 95.46%.

Insiders Place Their Bets

In related news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction 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 approximately $43,853.10. This trade represents a 97.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in shares of First of Long Island in the 1st quarter worth about $42,000. FMR LLC increased its holdings in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. CWM LLC raised its position in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after acquiring an additional 5,819 shares during the period. Evoke Wealth LLC purchased a new position in First of Long Island in the second quarter valued at about $103,000. Finally, SG Americas Securities LLC bought a new position in shares of First of Long Island during the 3rd quarter valued at approximately $118,000. 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.