First of Long Island Corp (FLIC) Given Average Recommendation of “Hold” by Analysts

Shares of First of Long Island Corp (NASDAQ:FLIC) have been given an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold rating.

Zacks has also given First of Long Island an industry rank of 154 out of 255 based on the ratings given to its competitors.

A number of research firms have commented on FLIC. BidaskClub raised shares of First of Long Island from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of First of Long Island from a “strong sell” rating to a “hold” rating in a research report on Monday, October 1st. Finally, ValuEngine cut shares of First of Long Island from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 31st.

A number of hedge funds have recently added to or reduced their stakes in FLIC. SG Americas Securities LLC acquired a new stake in shares of First of Long Island during the second quarter worth $106,000. Engineers Gate Manager LP acquired a new stake in shares of First of Long Island during the second quarter worth $222,000. Mackay Shields LLC acquired a new stake in shares of First of Long Island during the second quarter worth $295,000. Bank of America Corp DE lifted its holdings in shares of First of Long Island by 51.5% during the second quarter. Bank of America Corp DE now owns 35,773 shares of the bank’s stock worth $889,000 after buying an additional 12,155 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of First of Long Island by 24.4% during the second quarter. First Trust Advisors LP now owns 35,828 shares of the bank’s stock worth $890,000 after buying an additional 7,023 shares in the last quarter. 56.77% of the stock is owned by hedge funds and other institutional investors.

FLIC stock traded up $0.07 during midday trading on Thursday, reaching $20.28. 439 shares of the company were exchanged, compared to its average volume of 51,152. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.94 and a quick ratio of 0.94. First of Long Island has a one year low of $19.09 and a one year high of $32.20. The stock has a market cap of $510.20 million, a price-to-earnings ratio of 13.80 and a beta of 0.61.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Tuesday, October 30th. The bank reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. First of Long Island had a net margin of 28.61% and a return on equity of 11.10%. The firm had revenue of $23.07 million during the quarter, compared to analysts’ expectations of $28.29 million. Research analysts anticipate that First of Long Island will post 1.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Wednesday, October 10th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. This is a boost from First of Long Island’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, October 9th. First of Long Island’s payout ratio is 45.95%.

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 privately owned businesses, professionals, consumers, public bodies, and other organizations. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts and IOLA, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as personal and non-personal money market and savings products.

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