First of Long Island (NASDAQ:FLIC) Stock Passes Above 200 Day Moving Average - Here's Why

The First of Long Island Co. (NASDAQ:FLIC - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.83 and traded as high as $13.91. First of Long Island shares last traded at $13.88, with a volume of 44,516 shares traded.

Analyst Upgrades and Downgrades

FLIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted 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. StockNews.com initiated coverage on shares of First of Long Island in a research report on Wednesday. They set a "hold" rating for the company.

First of Long Island Stock Down 2.5 %

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market cap of $304.97 million, a PE ratio of 15.77 and a beta of 0.68. The firm has a fifty day moving average of $13.14 and a 200 day moving average of $11.83.

First of Long Island Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 11th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.21%. First of Long Island's dividend payout ratio (DPR) is presently 95.46%.

Insider Activity at First of Long Island

In other First of Long Island 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 transaction, the director now owns 3,453 shares of the company's stock, valued at approximately $43,853.10. The trade was a 97.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 5.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of First of Long Island during the third quarter valued at about $5,407,000. AQR Capital Management LLC grew its position in First of Long Island by 272.6% during the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank's stock valued at $4,397,000 after buying an additional 321,032 shares during the period. American Century Companies Inc. raised its stake in First of Long Island by 17.3% during the second 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 during the period. Barclays PLC grew its position in shares of First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock valued at $743,000 after buying an additional 24,399 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of First of Long Island in the second quarter valued at about $230,000. 48.33% of the stock is owned by institutional investors and hedge funds.

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.