First of Long Island (NASDAQ:FLIC) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of First of Long Island (NASDAQ:FLIC) from a hold rating to a sell rating in a report released on Monday morning.

First of Long Island Stock Down 9.0 %

First of Long Island stock opened at $9.55 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $10.72 and its 200-day simple moving average is $11.51. The firm has a market capitalization of $214.49 million, a P/E ratio of 8.84 and a beta of 0.64. First of Long Island has a twelve month low of $8.79 and a twelve month high of $14.26.

First of Long Island Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 13th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.84 annualized dividend and a yield of 8.80%. First of Long Island’s dividend payout ratio is currently 77.78%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FLIC. SG Americas Securities LLC purchased a new stake in shares of First of Long Island in the third quarter valued at $110,000. Kestra Advisory Services LLC acquired a new position in shares of First of Long Island in the third quarter valued at approximately $161,000. Trexquant Investment LP raised its position in shares of First of Long Island by 8.5% in the third quarter. Trexquant Investment LP now owns 37,067 shares of the bank’s stock valued at $427,000 after buying an additional 2,892 shares during the last quarter. AQR Capital Management LLC increased its position in First of Long Island by 107.6% during the third quarter. AQR Capital Management LLC now owns 396,994 shares of the bank’s stock worth $4,569,000 after purchasing an additional 205,741 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in First of Long Island by 145.7% during the third quarter. GSA Capital Partners LLP now owns 103,078 shares of the bank’s stock worth $1,186,000 after purchasing an additional 61,128 shares during the last quarter. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.