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

StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC - Free Report) in a report issued on Tuesday morning. The brokerage issued a hold rating on the bank's stock.

Separately, Keefe, Bruyette & Woods upped 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 report on Monday, July 29th.

First of Long Island Stock Down 0.7 %

Shares of NASDAQ:FLIC traded down $0.10 during trading on Tuesday, hitting $14.22. The company's stock had a trading volume of 110,364 shares, compared to its average volume of 136,661. The business has a 50 day moving average price of $12.97 and a two-hundred day moving average price of $11.66. The company has a market capitalization of $320.58 million, a PE ratio of 16.27 and a beta of 0.68. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $14.67.

First of Long Island Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date was Friday, October 11th. First of Long Island's payout ratio is 95.45%.

Insider Activity at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the business's 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 completion of the sale, the director now directly owns 3,453 shares of the company's stock, valued at $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 6.33% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of First of Long Island in the first quarter valued at approximately $42,000. CWM LLC grew its holdings in First of Long Island by 292.0% during the 2nd quarter. CWM LLC now owns 7,812 shares of the bank's stock worth $78,000 after acquiring an additional 5,819 shares during the last quarter. SG Americas Securities LLC bought a new position in First of Long Island during the third quarter worth $118,000. Hillsdale Investment Management Inc. acquired a new position in First of Long Island during the first quarter worth $105,000. Finally, Evoke Wealth LLC purchased a new stake in shares of First of Long Island in the second quarter valued at about $103,000. Institutional investors 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.