StockNews.com Initiates Coverage on First of Long Island (NASDAQ:FLIC)

StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

FLIC stock opened at $12.46 on Tuesday. First of Long Island has a twelve month low of $9.30 and a twelve month 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. The business has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $12.97. The company has a market capitalization of $280.92 million, a P/E ratio of 16.61 and a beta of 0.75.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 EPS 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%.

Institutional Investors Weigh In On First of Long Island

Large investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after purchasing an additional 1,950 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in First of Long Island in the fourth quarter worth $126,000. Algert Global LLC purchased a new position in First of Long Island in the fourth quarter worth $134,000. Sherbrooke Park Advisers LLC purchased a new position in First of Long Island in the fourth quarter worth $136,000. Finally, SG Americas Securities LLC raised its position in First of Long Island by 28.4% in the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock worth $138,000 after acquiring an additional 2,614 shares in the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

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.