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

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

First of Long Island Stock Down 0.1 %

Shares of NASDAQ:FLIC opened at $13.78 on Friday. The company has a 50-day moving average price of $12.58 and a 200 day moving average price of $12.85. 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 12 month low of $9.30 and a 12 month high of $15.03. The company has a market cap of $310.66 million, a price-to-earnings ratio of 18.37 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last released its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate 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 Trading of First of Long Island

Several institutional investors have recently added to or reduced their stakes in FLIC. Anchor Capital Advisors LLC lifted its holdings in First of Long Island by 0.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 176,241 shares of the bank’s stock valued at $2,058,000 after buying an additional 877 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of First of Long Island by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 174,109 shares of the bank’s stock valued at $2,034,000 after purchasing an additional 1,271 shares during the period. FMR LLC increased its holdings in First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after purchasing an additional 1,950 shares during the period. Sei Investments Co. increased its holdings in First of Long Island by 13.0% during the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after purchasing an additional 2,500 shares during the period. Finally, SG Americas Securities LLC raised its position in First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,614 shares in the last quarter. Institutional investors own 48.33% of the company’s stock.

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.