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

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

First of Long Island Stock Down 1.1 %

Shares of FLIC opened at $13.64 on Friday. First of Long Island has a one year low of $9.30 and a one year high of $15.03. The company has a market cap of $307.45 million, a P/E ratio of 18.19 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $12.88.

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 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of FLIC. SG Americas Securities LLC acquired a new position in shares of First of Long Island during the third quarter worth $118,000. CWM LLC grew its stake in shares of First of Long Island by 87.8% in the third quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares during the last quarter. Empowered Funds LLC grew its stake in shares of First of Long Island by 5.4% in the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after purchasing an additional 2,948 shares during the last quarter. Quest Partners LLC bought a new stake in shares of First of Long Island in the third quarter worth $212,000. Finally, FMR LLC grew its stake in shares of First of Long Island by 124.0% in 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. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.