The First of Long Island (NASDAQ:FLIC) Sets New 52-Week High at $22.00


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The First of Long Island Co. (NASDAQ:FLIC)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $22.00 and last traded at $21.94, with a volume of 605 shares trading hands. The stock had previously closed at $21.77.

Separately, Zacks Investment Research raised shares of The First of Long Island from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, April 2nd.

The firm has a market capitalization of $523.46 million, a PE ratio of 13.25 and a beta of 0.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average price of $21.14 and a 200-day moving average price of $18.60.

The First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Friday, April 30th. The bank reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The First of Long Island had a net margin of 26.67% and a return on equity of 10.78%. Research analysts expect that The First of Long Island Co. will post 1.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Wednesday, March 10th were paid a $0.19 dividend. The ex-dividend date was Tuesday, March 9th. This represents a $0.76 annualized dividend and a yield of 3.45%. The First of Long Island’s dividend payout ratio (DPR) is 43.43%.

Several hedge funds have recently modified their holdings of FLIC. Chilton Investment Co. LLC grew its stake in The First of Long Island by 1.2% during the 4th quarter. Chilton Investment Co. LLC now owns 141,074 shares of the bank’s stock worth $2,518,000 after buying an additional 1,624 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of The First of Long Island by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 492,707 shares of the bank’s stock worth $8,795,000 after acquiring an additional 1,951 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in shares of The First of Long Island during the third quarter valued at about $35,000. Stifel Financial Corp raised its position in shares of The First of Long Island by 6.0% in the 4th quarter. Stifel Financial Corp now owns 43,017 shares of the bank’s stock valued at $768,000 after purchasing an additional 2,450 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in The First of Long Island by 13.0% in the 4th quarter. Rhumbline Advisers now owns 40,781 shares of the bank’s stock worth $728,000 after purchasing an additional 4,678 shares in the last quarter. 56.77% of the stock is currently owned by institutional investors and hedge funds.

The First of Long Island Company Profile (NASDAQ:FLIC)

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. Its deposit products include business and small business checking, personal checking products, savings accounts, negotiable order of withdrawal accounts, interest on lawyer accounts, escrow service accounts, rent security accounts, time deposits, holiday club accounts, and individual retirement accounts, as well as money market accounts.

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