First of Long Island (NASDAQ:FLIC) Raised to Outperform at Keefe, Bruyette & Woods

First of Long Island (NASDAQ:FLIC) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat reports.

Separately, StockNews.com started coverage on First of Long Island in a report on Friday. They set a “hold” rating on the stock.

First of Long Island Stock Performance

FLIC stock opened at $12.35 on Tuesday. The company has a market capitalization of $279.54 million, a P/E ratio of 16.47 and a beta of 0.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a 50-day simple moving average of $12.70 and a 200 day simple moving average of $12.92. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03.

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 Investors Weigh In On First of Long Island

A number of large investors have recently bought and sold shares of FLIC. Dimensional Fund Advisors LP increased its holdings in shares of First of Long Island by 5.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank’s stock valued at $13,485,000 after acquiring an additional 55,710 shares during the last quarter. Wellington Management Group LLP lifted its position 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 worth $7,386,000 after acquiring an additional 212,216 shares during the period. Renaissance Technologies LLC raised its position in First of Long Island by 3.6% in the fourth quarter. Renaissance Technologies LLC now owns 616,050 shares of the bank’s stock worth $7,195,000 after purchasing an additional 21,200 shares in the last quarter. State Street Corp raised 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 acquiring an additional 16,456 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in First of Long Island by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 504,859 shares of the bank’s stock valued at $5,898,000 after purchasing an additional 3,978 shares during the last quarter. 48.33% of the stock is currently 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.