First of Long Island (NASDAQ:FLIC) Coverage Initiated by Analysts at StockNews.com

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

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

First of Long Island Trading Up 1.3 %

Shares of First of Long Island stock opened at $12.91 on Thursday. The company has a 50 day simple moving average of $12.56 and a two-hundred day simple moving average of $11.18. The firm has a market cap of $290.68 million, a PE ratio of 11.95 and a beta of 0.69. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97.

First of Long Island (NASDAQ:FLIC) last announced its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping 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 company had revenue of $45.41 million during the quarter, compared to analyst estimates of $20.90 million. During the same period in the previous year, the business earned $0.31 earnings per share.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now owns 3,453 shares in the company, valued at approximately $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First of Long Island

Several institutional investors have recently added to or reduced their stakes in FLIC. Quadrature Capital Ltd purchased a new stake in shares of First of Long Island during the fourth quarter worth about $144,000. Webster Bank N. A. purchased a new stake in First of Long Island in the 1st quarter worth approximately $28,000. BNP Paribas Financial Markets grew its position 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 worth $241,000 after buying an additional 7,927 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of First of Long Island in the 1st quarter worth approximately $132,000. Finally, John G Ullman & Associates Inc. purchased a new position in shares of First of Long Island during the first quarter valued at approximately $226,000. Hedge funds and other institutional investors 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.