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

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

First of Long Island Stock Performance

First of Long Island stock opened at $12.96 on Monday. The firm has a market capitalization of $292.20 million, a P/E ratio of 17.28 and a beta of 0.75. 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 stock has a fifty day moving average price of $12.46 and a 200 day moving average price of $12.94. First of Long Island has a 52 week low of $9.30 and a 52 week high of $15.03.

First of Long Island (NASDAQ:FLIC) last announced 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FLIC. Empowered Funds LLC boosted its holdings in First of Long Island by 5.4% in the third quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock valued at $747,000 after purchasing an additional 2,948 shares during the last quarter. Quest Partners LLC bought a new position in First of Long Island during the 3rd quarter worth approximately $212,000. FMR LLC lifted its holdings in First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after buying an additional 1,950 shares during the last quarter. Stifel Financial Corp lifted its holdings in First of Long Island by 8.9% during the 3rd quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock worth $746,000 after buying an additional 4,716 shares during the last quarter. Finally, State Street Corp lifted its holdings in First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after buying an additional 16,456 shares during 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.