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

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

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

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $13.82 on Monday. The company has a 50 day moving average price of $12.92 and a 200 day moving average price of $11.60. The firm has a market capitalization of $311.50 million, a P/E ratio of 15.70 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.

First of Long Island Dividend Announcement

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

Insider Buying and Selling at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares of the company’s stock, valued at $43,853.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.67% of the company’s stock.

Institutional Trading of First of Long Island

A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of First of Long Island by 272.6% during 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 in the last quarter. ProShare Advisors LLC increased its position in shares of First of Long Island by 8.2% in the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after buying an additional 51,872 shares in the last quarter. American Century Companies Inc. raised its stake in shares of First of Long Island by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after buying an additional 51,792 shares during the period. Squarepoint Ops LLC acquired a new position in shares of First of Long Island during the 2nd quarter worth approximately $230,000. Finally, Marshall Wace LLP purchased a new position in shares of First of Long Island during the 2nd quarter valued at approximately $209,000. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.