First of Long Island (NASDAQ:FLIC) Upgraded at StockNews.com

StockNews.com upgraded shares of First of Long Island (NASDAQ:FLIC) from a sell rating to a hold rating in a research note published on Saturday morning.

First of Long Island Stock Performance

NASDAQ FLIC opened at $13.33 on Friday. The company has a fifty day moving average of $10.47 and a two-hundred day moving average of $10.84. The company has a market capitalization of $300.19 million, a PE ratio of 12.34 and a beta of 0.69. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99. First of Long Island has a 1 year low of $9.30 and a 1 year high of $14.26.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.96%. The company had revenue of $45.41 million for the quarter, compared to the consensus estimate of $20.90 million. During the same period last year, the firm posted $0.31 EPS. As a group, analysts expect that First of Long Island will post 0.8 earnings per share for the current year.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Wednesday, July 10th. First of Long Island’s payout ratio is currently 77.78%.

Institutional Investors Weigh In On First of Long Island

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of First of Long Island by 21.7% in the 4th quarter. SG Americas Securities LLC now owns 11,602 shares of the bank’s stock worth $154,000 after acquiring an additional 2,068 shares during the period. Strs Ohio boosted its holdings in First of Long Island by 6.7% in the 4th quarter. Strs Ohio now owns 43,300 shares of the bank’s stock valued at $573,000 after purchasing an additional 2,700 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in First of Long Island during the 4th quarter worth approximately $134,000. Bailard Inc. purchased a new position in shares of First of Long Island during the 4th quarter worth approximately $359,000. Finally, Anchor Capital Advisors LLC lifted its holdings in shares of First of Long Island by 156.3% in the 4th quarter. Anchor Capital Advisors LLC now owns 134,455 shares of the bank’s stock valued at $1,780,000 after buying an additional 81,999 shares during the period. 48.33% of the stock is owned by institutional investors and hedge funds.

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.