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

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

First of Long Island Price Performance

FLIC stock opened at $13.80 on Friday. The company has a market capitalization of $311.11 million, a P/E ratio of 15.68 and a beta of 0.71. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The company has a fifty day moving average price of $13.67 and a 200-day moving average price of $12.35. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were given 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 dividend yield of 6.09%. First of Long Island’s dividend payout ratio (DPR) is currently 95.45%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently modified their holdings of FLIC. Wellington Management Group LLP bought a new stake in shares of First of Long Island in the 3rd quarter valued at $5,407,000. AQR Capital Management LLC raised 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 purchasing an additional 321,032 shares during the last quarter. American Century Companies Inc. raised its position 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 valued at $3,522,000 after buying an additional 51,792 shares during the last quarter. Barclays PLC grew its stake in shares of First of Long Island by 73.1% in the 3rd 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. Finally, Squarepoint Ops LLC bought a new position in shares of First of Long Island during the second quarter valued at about $230,000. 48.33% of the stock is owned by institutional investors.

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.