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

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

First of Long Island Stock Performance

Shares of FLIC stock opened at $12.81 on Monday. First of Long Island has a 52-week low of $9.30 and a 52-week 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’s 50-day moving average price is $12.47 and its 200 day moving average price is $12.94. The stock has a market capitalization of $288.81 million, a PE ratio of 17.08 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Investors of record on Tuesday, December 31st were issued a dividend of $0.21 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 6.56%. First of Long Island’s dividend payout ratio is presently 112.00%.

Hedge Funds Weigh In On First of Long Island

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLIC. Wellington Management Group LLP acquired a new position in First of Long Island in the 3rd quarter valued at about $5,407,000. ABC Arbitrage SA acquired a new position in First of Long Island during the fourth quarter valued at approximately $4,545,000. Segall Bryant & Hamill LLC purchased a new stake in First of Long Island during the 4th quarter worth $1,856,000. Credit Industriel ET Commercial purchased a new stake in shares of First of Long Island in the fourth quarter worth about $1,180,000. Finally, Millennium Management LLC grew its position in First of Long Island by 79.9% in the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock valued at $1,809,000 after acquiring an additional 68,807 shares in the last quarter. Institutional investors and hedge funds 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.