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

Equities research analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Trading Down 1.8 %

Shares of NASDAQ FLIC opened at $12.29 on Friday. The company has a 50-day moving average of $12.69 and a two-hundred day moving average of $12.91. The company has a market cap of $278.18 million, a PE ratio of 16.39 and a beta of 0.75. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate 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%.

Hedge Funds Weigh In On First of Long Island

Several hedge funds have recently bought and sold shares of FLIC. FMR LLC lifted its holdings in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares during the period. Stifel Financial Corp lifted its stake in First of Long Island by 8.9% during the third quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock worth $746,000 after purchasing an additional 4,716 shares during the last quarter. State Street Corp lifted its stake in First of Long Island by 3.4% during 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. Wellington Management Group LLP acquired a new stake in shares of First of Long Island in the 3rd quarter valued at $5,407,000. Finally, Barclays PLC increased its stake in shares of First of Long Island by 73.1% in the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after purchasing an additional 24,399 shares during the last quarter. 48.33% of the stock is owned by 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.