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

Research analysts at StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued on Saturday. The firm 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 upped their price target for the company from $16.04 to $16.56 in a report on Tuesday.

First of Long Island Price Performance

NASDAQ:FLIC opened at $11.00 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a one year low of $9.30 and a one year high of $15.03. The company has a fifty day moving average price of $12.69 and a 200 day moving average price of $12.88. The stock has a market cap of $248.99 million, a P/E ratio of 14.67 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last announced 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

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

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.