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

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

Separately, Keefe, Bruyette & Woods upped their price target on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

First of Long Island Stock Up 2.8 %

Shares of NASDAQ FLIC opened at $14.42 on Wednesday. First of Long Island has a 52-week low of $9.30 and a 52-week high of $14.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The company’s 50 day moving average price is $13.19 and its 200-day moving average price is $11.86. The company has a market capitalization of $325.03 million, a P/E ratio of 16.14 and a beta of 0.68.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Friday, October 11th. First of Long Island’s dividend payout ratio (DPR) is presently 95.46%.

Insider Transactions at First of Long Island

In other First of Long Island 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 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 approximately $43,853.10. This trade represents a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.33% of the company’s stock.

Hedge Funds Weigh In On First of Long Island

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in First of Long Island during the 3rd quarter worth approximately $5,407,000. AQR Capital Management LLC increased its holdings in shares of First of Long Island by 272.6% during the second 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 in the last quarter. American Century Companies Inc. raised its position in shares of First of Long Island by 17.3% during the second 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. Barclays PLC lifted its holdings 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 purchasing an additional 24,399 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of First of Long Island in the 2nd quarter worth $230,000. Institutional investors and hedge funds 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.