The First of Long Island (NASDAQ:FLIC) Sets New 12-Month High at $21.87

The First of Long Island Co. (NASDAQ:FLIC)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $21.87 and last traded at $21.68, with a volume of 61953 shares changing hands. The stock had previously closed at $21.84.

A number of equities research analysts have commented on FLIC shares. Boenning Scattergood raised shares of The First of Long Island from a “neutral” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Wednesday, December 16th. Zacks Investment Research raised shares of The First of Long Island from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Friday, April 2nd.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day moving average is $20.07 and its 200 day moving average is $17.80. The stock has a market capitalization of $509.20 million, a PE ratio of 12.90 and a beta of 0.53.

The First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, January 28th. The bank reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The First of Long Island had a net margin of 26.67% and a return on equity of 10.78%. The company had revenue of $28.16 million during the quarter, compared to analysts’ expectations of $28.68 million. Analysts expect that The First of Long Island Co. will post 1.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 19th. Stockholders of record on Wednesday, March 10th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Tuesday, March 9th. The First of Long Island’s dividend payout ratio (DPR) is presently 43.43%.

Several hedge funds have recently added to or reduced their stakes in FLIC. Arrowstreet Capital Limited Partnership lifted its stake in shares of The First of Long Island by 161.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 155,346 shares of the bank’s stock worth $2,301,000 after acquiring an additional 95,874 shares during the period. BlackRock Inc. lifted its stake in shares of The First of Long Island by 4.5% in the fourth quarter. BlackRock Inc. now owns 1,849,446 shares of the bank’s stock valued at $33,013,000 after purchasing an additional 80,263 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of The First of Long Island by 294.2% in the fourth quarter. JPMorgan Chase & Co. now owns 67,752 shares of the bank’s stock valued at $1,210,000 after purchasing an additional 50,563 shares during the period. FMR LLC lifted its stake in shares of The First of Long Island by 292,187.5% in the first quarter. FMR LLC now owns 46,766 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 46,750 shares during the period. Finally, Cox Capital Mgt LLC lifted its stake in shares of The First of Long Island by 129.5% in the fourth quarter. Cox Capital Mgt LLC now owns 63,458 shares of the bank’s stock valued at $1,133,000 after purchasing an additional 35,802 shares during the period. Institutional investors own 56.77% of the company’s stock.

About The First of Long Island (NASDAQ:FLIC)

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. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts, interest on lawyer accounts, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market accounts.

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