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

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

First of Long Island Trading Down 0.1 %

NASDAQ:FLIC opened at $13.70 on Friday. The stock has a market capitalization of $308.85 million, a PE ratio of 15.57 and a beta of 0.71. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The business’s 50-day simple moving average is $13.65 and its 200-day simple moving average is $12.32. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98.

Institutional Investors Weigh In On First of Long Island

Several large investors have recently made changes to their positions in FLIC. FMR LLC raised its position in First of Long Island by 124.0% during the third quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares in the last quarter. CWM LLC raised its holdings in shares of First of Long Island by 292.0% in the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after purchasing an additional 5,819 shares during the period. Evoke Wealth LLC acquired a new stake in First of Long Island in the 2nd quarter valued at about $103,000. SG Americas Securities LLC bought a new position in First of Long Island during the third quarter worth about $118,000. Finally, Marshall Wace LLP acquired a new position in First of Long Island during the second quarter worth approximately $209,000. Institutional investors and hedge funds 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.