First of Long Island (NASDAQ:FLIC) Now Covered by StockNews.com

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

First of Long Island Price Performance

Shares of FLIC stock traded down $0.02 during mid-day trading on Tuesday, hitting $12.30. 19,383 shares of the stock were exchanged, compared to its average volume of 85,235. 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 company has a market cap of $277.32 million, a PE ratio of 16.43 and a beta of 0.75. The firm has a fifty day moving average of $12.53 and a 200 day moving average of $12.96. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

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First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Tuesday, December 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.84 annualized dividend and a yield of 6.83%. First of Long Island's dividend payout ratio (DPR) is presently 112.00%.

Hedge Funds Weigh In On First of Long Island

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in First of Long Island in the third quarter valued at $5,407,000. ABC Arbitrage SA acquired a new stake in First of Long Island during the fourth quarter worth about $4,545,000. Segall Bryant & Hamill LLC purchased a new stake in shares of First of Long Island during the fourth quarter worth about $1,856,000. Credit Industriel ET Commercial bought a new stake in First of Long Island during the fourth quarter valued at $1,180,000. Finally, Millennium Management LLC boosted its position in shares of First of Long Island by 79.9% during the fourth quarter. Millennium Management LLC now owns 154,915 shares of the bank's stock worth $1,809,000 after buying an additional 68,807 shares during the period. Hedge funds and other institutional investors own 48.33% of the company's stock.

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.