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

StockNews.com lowered shares of First of Long Island (NASDAQ:FLICGet Rating) from a buy rating to a hold rating in a report published on Tuesday.

Several other equities research analysts also recently commented on the stock. Piper Sandler downgraded shares of First of Long Island from an overweight rating to a neutral rating in a report on Friday, April 29th. Zacks Investment Research downgraded shares of First of Long Island from a buy rating to a hold rating in a report on Wednesday, March 30th.

FLIC opened at $18.20 on Tuesday. The firm has a market cap of $420.88 million, a P/E ratio of 9.78 and a beta of 0.51. The firm has a 50-day moving average of $19.41 and a 200 day moving average of $20.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 0.91. First of Long Island has a fifty-two week low of $16.51 and a fifty-two week high of $23.98.

First of Long Island (NASDAQ:FLICGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.06. First of Long Island had a net margin of 32.36% and a return on equity of 10.71%. Equities research analysts predict that First of Long Island will post 1.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Shareholders of record on Wednesday, March 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.40%. The ex-dividend date was Tuesday, March 15th. First of Long Island’s dividend payout ratio (DPR) is presently 43.01%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in shares of First of Long Island by 5.0% in the first quarter. Renaissance Technologies LLC now owns 690,781 shares of the bank’s stock worth $13,443,000 after buying an additional 32,900 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of First of Long Island by 16.7% in the first quarter. Sei Investments Co. now owns 15,756 shares of the bank’s stock worth $307,000 after buying an additional 2,250 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First of Long Island by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 972,315 shares of the bank’s stock worth $18,922,000 after buying an additional 28,512 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of First of Long Island by 58.2% in the first quarter. MetLife Investment Management LLC now owns 12,646 shares of the bank’s stock worth $246,000 after buying an additional 4,650 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of First of Long Island by 39.7% in the first quarter. Martingale Asset Management L P now owns 20,410 shares of the bank’s stock worth $399,000 after buying an additional 5,800 shares in the last quarter. 65.23% of the stock is currently owned by institutional investors and hedge funds.

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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