BidaskClub upgraded shares of First of Long Island (NASDAQ:FLIC) from a sell rating to a hold rating in a report issued on Wednesday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded First of Long Island from a hold rating to a sell rating in a research note on Tuesday, June 18th. Boenning Scattergood restated a hold rating on shares of First of Long Island in a research note on Thursday, May 2nd. Finally, Zacks Investment Research upgraded First of Long Island from a sell rating to a hold rating in a research note on Saturday, August 10th.

FLIC stock opened at $21.58 on Wednesday. The company has a market capitalization of $523.03 million, a P/E ratio of 13.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.95 and a current ratio of 0.95. First of Long Island has a 52-week low of $17.53 and a 52-week high of $23.65. The business has a 50-day simple moving average of $21.52 and a two-hundred day simple moving average of $22.05.

First of Long Island (NASDAQ:FLIC) last announced its earnings results on Monday, July 29th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. First of Long Island had a return on equity of 10.80% and a net margin of 28.68%. The firm had revenue of $28.00 million for the quarter, compared to the consensus estimate of $27.81 million. As a group, sell-side analysts forecast that First of Long Island will post 1.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Friday, July 12th were paid a $0.17 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. First of Long Island’s payout ratio is presently 41.72%.

Several hedge funds and other institutional investors have recently made changes to their positions in FLIC. Tower Research Capital LLC TRC boosted its stake in shares of First of Long Island by 669.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,733 shares of the bank’s stock worth $95,000 after buying an additional 4,118 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of First of Long Island by 20.4% in the 4th quarter. Legal & General Group Plc now owns 4,826 shares of the bank’s stock worth $97,000 after purchasing an additional 817 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of First of Long Island by 425.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,137 shares of the bank’s stock worth $113,000 after purchasing an additional 4,159 shares during the period. SG Americas Securities LLC bought a new stake in shares of First of Long Island in the 1st quarter worth approximately $134,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of First of Long Island by 9.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,775 shares of the bank’s stock worth $141,000 after purchasing an additional 592 shares during the period. Hedge funds and other institutional investors own 54.16% of the company’s stock.

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 small and medium-sized 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 money market products.

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