First of Long Island (NASDAQ:FLIC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of First of Long Island (NASDAQ:FLICGet Rating) from a hold rating to a buy rating in a research note released on Tuesday morning.

Separately, Piper Sandler downgraded shares of First of Long Island from an overweight rating to a neutral rating in a research report on Friday, April 29th.

First of Long Island Trading Up 2.1 %

NASDAQ:FLIC opened at $19.25 on Tuesday. The company’s 50 day moving average price is $18.10 and its 200-day moving average price is $19.51. First of Long Island has a 52 week low of $16.51 and a 52 week high of $22.95. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.48. The stock has a market cap of $445.25 million, a price-to-earnings ratio of 10.03 and a beta of 0.53.

First of Long Island (NASDAQ:FLICGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The bank reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. First of Long Island had a net margin of 32.72% and a return on equity of 11.04%. The firm had revenue of $32.72 million for the quarter, compared to analysts’ expectations of $30.90 million. On average, equities research analysts forecast that First of Long Island will post 2.07 earnings per share for the current fiscal year.

First of Long Island Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Thursday, July 14th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, July 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.16%. First of Long Island’s dividend payout ratio (DPR) is 41.67%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in First of Long Island in the second quarter worth approximately $193,000. Strs Ohio raised its position in First of Long Island by 5.9% in the second quarter. Strs Ohio now owns 16,100 shares of the bank’s stock worth $282,000 after acquiring an additional 900 shares during the period. Cox Capital Mgt LLC raised its position in First of Long Island by 2.6% in the second quarter. Cox Capital Mgt LLC now owns 107,556 shares of the bank’s stock worth $1,885,000 after acquiring an additional 2,726 shares during the period. Amalgamated Bank bought a new position in First of Long Island in the first quarter worth approximately $54,000. Finally, Goldman Sachs Group Inc. raised its position in First of Long Island by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 347,428 shares of the bank’s stock worth $6,761,000 after acquiring an additional 12,824 shares during the period. 65.23% of the stock is currently owned by institutional investors.

First of Long Island Company Profile

(Get Rating)

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, holiday club, and individual retirement accounts.

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