First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued on Monday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Stock Performance

Shares of FLIC stock opened at $12.96 on Monday. The stock’s fifty day simple moving average is $12.46 and its 200-day simple moving average is $12.94. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company has a market capitalization of $292.20 million, a price-to-earnings ratio of 17.28 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

Institutional Investors Weigh In On First of Long Island

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its position in First of Long Island by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after acquiring an additional 2,948 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of First of Long Island in the 3rd quarter valued at $212,000. FMR LLC increased its stake in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after buying an additional 1,950 shares during the period. Stifel Financial Corp increased its stake in shares of First of Long Island by 8.9% in the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock valued at $746,000 after buying an additional 4,716 shares during the period. Finally, State Street Corp boosted its position in shares of First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after purchasing an additional 16,456 shares during the last quarter. 48.33% of the stock is currently owned by 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.