StockNews.com Initiates Coverage on First of Long Island (NASDAQ:FLIC)

StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note released on Sunday morning. The firm issued a hold rating on the bank’s stock.

First of Long Island Stock Up 1.4 %

FLIC opened at $13.83 on Friday. The business’s fifty day simple moving average is $12.52 and its 200 day simple moving average is $12.88. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03. The firm has a market cap of $311.78 million, a P/E ratio of 18.44 and a beta of 0.75. 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 (NASDAQ:FLIC) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

First of Long Island Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Tuesday, December 31st were issued a $0.21 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.07%. First of Long Island’s dividend payout ratio (DPR) is 112.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Anchor Capital Advisors LLC grew its holdings in First of Long Island by 0.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock valued at $2,058,000 after purchasing an additional 877 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of First of Long Island by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after acquiring an additional 1,271 shares in the last quarter. FMR LLC increased its position in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of First of Long Island by 28.4% in the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after acquiring an additional 2,614 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in First of Long Island by 5.0% in the fourth quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock valued at $712,000 after purchasing an additional 2,876 shares during the last quarter. 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.