First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Friday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Stock Down 1.8 %

Shares of NASDAQ:FLIC opened at $12.29 on Friday. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03. The company has a market capitalization of $278.18 million, a PE ratio of 16.39 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The company has a fifty day moving average of $12.69 and a 200-day moving average of $12.91.

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

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of First of Long Island by 50.5% during the fourth quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock valued at $7,386,000 after acquiring an additional 212,216 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in First of Long Island during the 4th quarter worth $126,000. Sherbrooke Park Advisers LLC acquired a new position in First of Long Island during the 4th quarter worth about $136,000. Millennium Management LLC grew its position in shares of First of Long Island by 79.9% in the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock valued at $1,809,000 after buying an additional 68,807 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of First of Long Island by 17.1% in the 4th quarter. Focus Partners Wealth now owns 34,288 shares of the bank’s stock valued at $400,000 after buying an additional 5,008 shares during the last quarter. 48.33% of the stock is owned by institutional investors.

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.