StockNews.com Initiates Coverage on First of Long Island (NASDAQ:FLIC)

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

First of Long Island Stock Up 3.2 %

First of Long Island stock opened at $11.52 on Wednesday. The firm has a 50 day moving average price of $13.20 and a two-hundred day moving average price of $12.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The firm has a market cap of $259.71 million, a price-to-earnings ratio of 13.09 and a beta of 0.74.

Institutional Investors Weigh In On First of Long Island

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in shares of First of Long Island during the 3rd quarter worth approximately $5,407,000. AQR Capital Management LLC boosted its position in shares of First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after purchasing an additional 321,032 shares in the last quarter. American Century Companies Inc. grew its stake in shares of First of Long Island by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after buying an additional 51,792 shares during the period. Barclays PLC raised its stake in First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock worth $743,000 after buying an additional 24,399 shares during the period. Finally, Squarepoint Ops LLC bought a new position in First of Long Island in the second quarter worth approximately $230,000. Institutional investors and hedge funds own 48.33% 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, 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.