First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

First of Long Island Stock Down 1.2 %

First of Long Island stock opened at $14.47 on Thursday. The stock’s 50 day moving average price is $13.39 and its 200 day moving average price is $12.06. The company has a market cap of $326.15 million, a PE ratio of 16.44 and a beta of 0.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03.

First of Long Island Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.81%. The ex-dividend date was Friday, October 11th. First of Long Island’s dividend payout ratio (DPR) is 95.46%.

Insider Transactions at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This represents a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.33% of the company’s stock.

Institutional Investors Weigh In On First of Long Island

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System acquired a new position in shares of First of Long Island in the first quarter worth $204,000. Vanguard Group Inc. boosted its stake in shares of First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after purchasing an additional 8,109 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of First of Long Island by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after buying an additional 3,570 shares in the last quarter. Quadrature Capital Ltd raised its position in shares of First of Long Island by 108.8% in the first quarter. Quadrature Capital Ltd now owns 22,650 shares of the bank’s stock valued at $251,000 after buying an additional 11,802 shares during the last quarter. Finally, CWM LLC boosted its position in First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after acquiring an additional 5,819 shares during the last quarter. Hedge funds and other 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.