First of Long Island (NASDAQ:FLIC) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of First of Long Island (NASDAQ:FLICFree Report) from a hold rating to a sell rating in a report released on Tuesday morning.

First of Long Island Trading Down 1.2 %

FLIC opened at $9.56 on Tuesday. The firm’s fifty day moving average is $10.18 and its two-hundred day moving average is $11.30. The firm has a market cap of $215.29 million, a PE ratio of 8.85 and a beta of 0.66. First of Long Island has a twelve month low of $9.35 and a twelve month high of $14.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.99 and a current ratio of 0.99.

First of Long Island (NASDAQ:FLICGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The bank reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). First of Long Island had a return on equity of 6.54% and a net margin of 14.14%. The business had revenue of $44.27 million for the quarter, compared to analyst estimates of $22.50 million. During the same period in the previous year, the business posted $0.29 EPS. Equities research analysts anticipate that First of Long Island will post 0.8 EPS for the current year.

Institutional Trading of First of Long Island

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of First of Long Island by 21.7% during the fourth quarter. SG Americas Securities LLC now owns 11,602 shares of the bank’s stock worth $154,000 after buying an additional 2,068 shares in the last quarter. Webster Bank N. A. acquired a new stake in shares of First of Long Island in the first quarter valued at approximately $28,000. Strs Ohio lifted its position in shares of First of Long Island by 6.7% in the fourth quarter. Strs Ohio now owns 43,300 shares of the bank’s stock worth $573,000 after purchasing an additional 2,700 shares in the last quarter. Trexquant Investment LP boosted its holdings in First of Long Island by 8.5% during the third quarter. Trexquant Investment LP now owns 37,067 shares of the bank’s stock worth $427,000 after purchasing an additional 2,892 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in First of Long Island by 32.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after buying an additional 3,570 shares during the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

About First of Long Island

(Get Free Report)

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.

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