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

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

Separately, Keefe, Bruyette & Woods upped their price objective on shares of First of Long Island from $11.00 to $13.00 and gave the company a market perform rating in a report on Monday, July 29th.

First of Long Island Stock Up 3.0 %

Shares of FLIC stock opened at $13.51 on Tuesday. First of Long Island has a 52-week low of $9.30 and a 52-week high of $13.95. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $304.19 million, a price-to-earnings ratio of 12.51 and a beta of 0.69. The firm’s 50-day moving average is $12.41 and its 200-day moving average is $11.03.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $45.41 million during the quarter, compared to analysts’ expectations of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same period last year, the firm posted $0.31 earnings per share.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, July 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.22%. First of Long Island’s dividend payout ratio (DPR) is currently 77.78%.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FLIC. Webster Bank N. A. bought a new stake in shares of First of Long Island in the first quarter valued at approximately $28,000. EntryPoint Capital LLC acquired a new stake in shares of First of Long Island in the 1st quarter valued at $42,000. CWM LLC increased its stake in shares of First of Long Island by 292.0% in the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after purchasing an additional 5,819 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of First of Long Island during the 1st quarter worth $105,000. Finally, Evoke Wealth LLC bought a new stake in shares of First of Long Island during the 2nd quarter worth $103,000. 48.33% of the stock is owned by institutional investors.

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.