StockNews.com Lowers First of Long Island (NASDAQ:FLIC) to Sell

StockNews.com lowered shares of First of Long Island (NASDAQ:FLIC) from a hold rating to a sell rating in a research report released on Monday.

First of Long Island Stock Performance

Shares of NASDAQ FLIC opened at $9.89 on Monday. The company has a 50 day simple moving average of $10.66 and a two-hundred day simple moving average of $11.49. The stock has a market cap of $222.13 million, a price-to-earnings ratio of 9.16 and a beta of 0.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.24. First of Long Island has a 12 month low of $8.79 and a 12 month high of $14.26.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $44.27 million during the quarter, compared to analyst estimates of $22.50 million. First of Long Island had a net margin of 14.14% and a return on equity of 6.59%. During the same period in the prior year, the company posted $0.29 earnings per share. As a group, analysts predict that First of Long Island will post 1.03 earnings per share for the current year.

First of Long Island Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 13th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.49%. The ex-dividend date was Tuesday, March 12th. First of Long Island’s payout ratio is 77.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Webster Bank N. A. acquired a new position in First of Long Island during the first quarter worth $28,000. SG Americas Securities LLC acquired a new position in First of Long Island in the 3rd quarter valued at $110,000. J.W. Cole Advisors Inc. purchased a new position in First of Long Island during the fourth quarter worth about $134,000. Quadrature Capital Ltd purchased a new position in shares of First of Long Island during the 4th quarter worth about $144,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of First of Long Island in the 1st quarter valued at $132,000. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.