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 report issued on Wednesday. The brokerage issued a hold rating on the bank’s stock.

First of Long Island Price Performance

Shares of FLIC stock opened at $11.80 on Wednesday. The firm has a market cap of $265.97 million, a price-to-earnings ratio of 13.41 and a beta of 0.74. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $13.07 and a 200 day moving average price of $12.67.

First of Long Island Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Tuesday, December 31st were paid a $0.21 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a yield of 7.12%. First of Long Island’s payout ratio is presently 95.46%.

Institutional Trading of First of Long Island

Several institutional investors and hedge funds have recently made changes to their positions in FLIC. Renaissance Technologies LLC grew its stake in shares of First of Long Island by 1.7% during the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after purchasing an additional 10,400 shares during the period. State Street Corp boosted its holdings in First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after buying an additional 16,456 shares during the last quarter. Geode Capital Management LLC grew its position in shares of First of Long Island by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock worth $6,447,000 after buying an additional 14,736 shares during the period. AQR Capital Management LLC increased its stake in shares of 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 valued at $4,397,000 after acquiring an additional 321,032 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of First of Long Island in the 3rd quarter valued at approximately $5,407,000. 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.