First of Long Island (NASDAQ:FLIC) Research Coverage Started at StockNews.com

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

First of Long Island Price Performance

Shares of NASDAQ FLIC opened at $11.68 on Monday. The stock has a fifty day moving average of $13.41 and a 200-day moving average of $12.54. The stock has a market cap of $263.31 million, a PE ratio of 13.27 and a beta of 0.71. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 7.19%. The ex-dividend date is Tuesday, December 31st. First of Long Island’s payout ratio is 95.45%.

Hedge Funds Weigh In On First of Long Island

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in First of Long Island in the 3rd quarter valued at $5,407,000. AQR Capital Management LLC increased its stake in First of Long Island by 272.6% in the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after acquiring an additional 321,032 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of First of Long Island by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after acquiring an additional 51,792 shares in the last quarter. Barclays PLC boosted its position in shares of First of Long Island by 73.1% during 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 last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of First of Long Island during the second quarter worth about $230,000. Hedge funds and other 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.