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

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

First of Long Island Trading Down 1.2 %

NASDAQ FLIC opened at $14.47 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The stock’s 50-day simple moving average is $13.39 and its two-hundred day simple moving average is $12.03. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. The company has a market capitalization of $326.21 million, a price-to-earnings ratio of 16.44 and a beta of 0.68.

Insider Buying and Selling at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated 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 transaction, the director now owns 3,453 shares in the company, valued at approximately $43,853.10. The trade was a 97.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.33% of the company’s stock.

Hedge Funds Weigh In On First of Long Island

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in shares of First of Long Island by 3.8% in the second quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock valued at $335,000 after acquiring an additional 1,231 shares during the period. FMR LLC increased 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 valued at $45,000 after purchasing an additional 1,950 shares during the period. Sei Investments Co. raised its position in First of Long Island by 13.0% during the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock valued at $217,000 after purchasing an additional 2,500 shares during the last quarter. Empowered Funds LLC lifted its holdings in First of Long Island by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 58,048 shares of the bank’s stock worth $747,000 after buying an additional 2,948 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in First of Long Island by 32.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after buying an additional 3,570 shares during the period. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.