First of Long Island (NASDAQ:FLIC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of First of Long Island (NASDAQ:FLIC) from a sell rating to a hold rating in a research note published on Wednesday.

First of Long Island Price Performance

NASDAQ FLIC opened at $9.63 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $11.24. The company has a market cap of $216.87 million, a P/E ratio of 8.92 and a beta of 0.66. First of Long Island has a 1 year low of $9.30 and a 1 year high of $14.26.

First of Long Island (NASDAQ:FLIC) last issued its quarterly earnings results on Friday, April 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $44.27 million during the quarter, compared to the consensus estimate of $22.50 million. First of Long Island had a net margin of 14.14% and a return on equity of 6.54%. During the same period last year, the company earned $0.29 earnings per share. On average, sell-side analysts predict that First of Long Island will post 0.8 EPS for the current year.

Institutional Trading of First of Long Island

Several hedge funds and other institutional investors have recently bought and sold shares of FLIC. Vanguard Group Inc. lifted its holdings in shares of First of Long Island by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after acquiring an additional 8,109 shares during the period. ProShare Advisors LLC lifted its holdings in First of Long Island by 8.2% during the 1st quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock valued at $7,620,000 after purchasing an additional 51,872 shares during the last quarter. AQR Capital Management LLC lifted its holdings in First of Long Island by 107.6% during the 3rd quarter. AQR Capital Management LLC now owns 396,994 shares of the bank’s stock valued at $4,569,000 after purchasing an additional 205,741 shares during the last quarter. rhino investment partners Inc bought a new position in First of Long Island during the 4th quarter valued at about $3,522,000. Finally, Anchor Capital Advisors LLC lifted its holdings in First of Long Island by 15.3% during the 1st quarter. Anchor Capital Advisors LLC now owns 155,024 shares of the bank’s stock valued at $1,719,000 after purchasing an additional 20,569 shares during the last quarter. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.