First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of First of Long Island (NASDAQ:FLIC) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the bank’s stock.

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

First of Long Island Stock Performance

FLIC opened at $10.77 on Friday. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The stock has a market cap of $243.78 million, a P/E ratio of 14.36 and a beta of 0.69. The stock’s 50 day simple moving average is $12.39 and its 200 day simple moving average is $12.77. 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 (NASDAQ:FLIC) last posted its earnings results 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 net margin of 9.52% and a return on equity of 4.74%.

Institutional Trading of First of Long Island

A number of large investors have recently made changes to their positions in FLIC. GAMMA Investing LLC boosted its stake in shares of First of Long Island by 2,711.4% during the 1st quarter. GAMMA Investing LLC now owns 2,952 shares of the bank’s stock worth $36,000 after purchasing an additional 2,847 shares during the last quarter. Wellington Management Group LLP grew its stake in 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. Wealth Enhancement Advisory Services LLC acquired a new position in First of Long Island in the 4th quarter valued at $126,000. Sherbrooke Park Advisers LLC purchased a new position in shares of First of Long Island during the 4th quarter worth $136,000. Finally, Millennium Management LLC boosted its holdings in shares of 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 purchasing an additional 68,807 shares during the last quarter. Institutional investors and hedge funds own 48.33% of the company’s stock.

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.