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

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

First of Long Island Trading Down 0.8 %

Shares of FLIC stock opened at $12.46 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock has a market cap of $280.92 million, a P/E ratio of 16.61 and a beta of 0.75. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The business has a fifty day simple moving average of $12.52 and a 200-day simple moving average of $12.97.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings data 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 Trading of First of Long Island

A number of large investors have recently made changes to their positions in FLIC. FMR LLC boosted its stake in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,950 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in First of Long Island in the 4th quarter worth about $126,000. Algert Global LLC acquired a new stake in First of Long Island in the 4th quarter worth about $134,000. Sherbrooke Park Advisers LLC acquired a new stake in First of Long Island in the 4th quarter worth about $136,000. Finally, SG Americas Securities LLC boosted its stake in First of Long Island by 28.4% in the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after buying an additional 2,614 shares during the last quarter. Institutional investors and hedge funds 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.