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

StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the bank’s stock.

First of Long Island Trading Down 1.2 %

Shares of FLIC opened at $14.47 on Thursday. The firm has a market cap of $326.21 million, a P/E ratio of 16.44 and a beta of 0.68. 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. The business has a 50-day moving average of $13.39 and a 200 day moving average of $12.05.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.84 annualized dividend and a yield of 5.81%. First of Long Island’s dividend payout ratio (DPR) is presently 95.45%.

Insiders Place Their Bets

In other news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction that occurred on 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 in the company, valued at $43,853.10. The trade was a 97.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its holdings in 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 worth $3,522,000 after purchasing an additional 51,792 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of First of Long Island by 32.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after acquiring an additional 3,570 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of First of Long Island by 272.6% in the second 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 period. Vanguard Group Inc. grew its position in shares of First of Long Island by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after purchasing an additional 8,109 shares in the last quarter. Finally, CWM LLC raised its stake in First of Long Island by 292.0% during the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after purchasing an additional 5,819 shares during the period. 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.