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

StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued on Wednesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price target on First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First of Long Island Trading Down 0.6 %

Shares of FLIC opened at $12.53 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14. First of Long Island has a 1-year low of $9.30 and a 1-year high of $13.95. The stock has a market capitalization of $282.13 million, a P/E ratio of 11.60 and a beta of 0.69. The business’s 50-day moving average price is $12.53 and its 200 day moving average price is $11.10.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. The business had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. During the same quarter in the prior year, the firm earned $0.31 EPS.

Insider Transactions at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.33% of the stock is owned by insiders.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently modified their holdings of the stock. Trexquant Investment LP raised its holdings in shares of First of Long Island by 25.0% during the fourth quarter. Trexquant Investment LP now owns 46,329 shares of the bank’s stock worth $613,000 after acquiring an additional 9,262 shares in the last quarter. rhino investment partners Inc acquired a new position in First of Long Island in the 4th quarter worth about $3,522,000. Quadrature Capital Ltd purchased a new stake in shares of First of Long Island during the 4th quarter worth about $144,000. Webster Bank N. A. acquired a new stake in shares of First of Long Island during the 1st quarter valued at about $28,000. Finally, BNP Paribas Financial Markets grew its stake in shares of First of Long Island by 57.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock valued at $241,000 after buying an additional 7,927 shares in 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.