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

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

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $11.85 on Tuesday. The firm has a market cap of $267.10 million, a price-to-earnings ratio of 13.47 and a beta of 0.71. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. 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 business has a fifty day simple moving average of $13.36 and a 200 day simple moving average of $12.61.

Institutional Trading of First of Long Island

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in First of Long Island by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 33,419 shares of the bank’s stock worth $335,000 after purchasing an additional 1,231 shares during the last quarter. FMR LLC raised its stake in shares of 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 buying an additional 1,950 shares during the last quarter. Sei Investments Co. lifted its holdings in First of Long Island by 13.0% in the second quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock valued at $217,000 after buying an additional 2,500 shares during the period. Empowered Funds LLC boosted its stake 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 acquiring an additional 2,948 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in First of Long Island by 14.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,386 shares of the bank’s stock worth $295,000 after acquiring an additional 3,810 shares during the period. 48.33% of the stock is owned by 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.