First of Long Island (NASDAQ:FLIC) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Shares of The First of Long Island Co. (NASDAQ:FLIC - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.66 and traded as high as $14.40. First of Long Island shares last traded at $14.32, with a volume of 139,655 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com began coverage on First of Long Island in a report on Tuesday. They set a "hold" rating for the company. Keefe, Bruyette & Woods upped their target price on shares of First of Long Island from $11.00 to $13.00 and gave the company a "market perform" rating in a research report on Monday, July 29th.

First of Long Island Price Performance

The stock has a market cap of $320.58 million, a P/E ratio of 16.27 and a beta of 0.68. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The company's 50 day simple moving average is $12.97 and its 200 day simple moving average is $11.66.

First of Long Island Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 annualized dividend and a dividend yield of 5.91%. First of Long Island's dividend payout ratio (DPR) is currently 95.45%.

Insider Transactions at First of Long Island

In related 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 stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the transaction, the director now directly owns 3,453 shares in the company, valued at approximately $43,853.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. Vanguard Group Inc. grew its position in First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank's stock valued at $12,689,000 after purchasing an additional 8,109 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of First of Long Island by 8.2% during the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank's stock worth $7,620,000 after purchasing an additional 51,872 shares during the period. Renaissance Technologies LLC grew its holdings in First of Long Island by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank's stock valued at $6,079,000 after buying an additional 10,400 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank's stock valued at $4,397,000 after acquiring an additional 321,032 shares during the period. Finally, American Century Companies Inc. raised its stake in First of Long Island by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank's stock worth $3,522,000 after purchasing an additional 51,792 shares in the last quarter. 48.33% of the stock is owned by institutional investors and hedge funds.

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.