First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note released on Wednesday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Stock Performance

NASDAQ FLIC opened at $13.57 on Wednesday. First of Long Island has a 1-year low of $9.30 and a 1-year high of $14.67. The company has a 50 day moving average of $13.16 and a 200-day moving average of $11.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The firm has a market cap of $305.92 million, a price-to-earnings ratio of 15.42 and a beta of 0.68.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 11th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.19%. First of Long Island’s payout ratio is 95.45%.

Insiders Place Their Bets

In other news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island 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 trade 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 at the SEC website. Corporate insiders own 6.33% of the company’s stock.

Institutional Trading of First of Long Island

Hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new stake in shares of First of Long Island during the 1st quarter worth approximately $42,000. FMR LLC raised its position in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares in the last quarter. CWM LLC lifted its stake in First of Long Island by 292.0% in the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after acquiring an additional 5,819 shares during the last quarter. Evoke Wealth LLC bought a new position in shares of First of Long Island in the 2nd quarter valued at about $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of First of Long Island in the 3rd quarter valued at about $118,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

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.