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

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

Separately, Keefe, Bruyette & Woods raised First of Long Island from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.04 to $16.56 in a report on Tuesday, April 1st.

First of Long Island Price Performance

FLIC opened at $11.00 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $248.99 million, a price-to-earnings ratio of 14.67 and a beta of 0.69. The business’s fifty day simple moving average is $12.69 and its 200-day simple moving average is $12.88. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03.

First of Long Island (NASDAQ:FLIC) last announced 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 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 large investors have recently made changes to their positions in the stock. Barclays PLC lifted its position 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 acquiring an additional 24,399 shares during the period. State Street Corp raised its stake in shares of First of Long Island by 3.4% in the third 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. FMR LLC lifted its holdings 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 worth $45,000 after purchasing an additional 1,950 shares during the period. Proficio Capital Partners LLC purchased a new stake in First of Long Island in the fourth quarter valued at approximately $165,000. Finally, Wellington Management Group LLP acquired a new position in First of Long Island in the 3rd quarter worth approximately $5,407,000. 48.33% of the stock is owned by hedge funds and other 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.