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

Equities researchers at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Wednesday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $11.78 on Wednesday. The firm has a fifty day moving average price of $12.54 and a two-hundred day moving average price of $12.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a one year low of $9.30 and a one year high of $15.03. The company has a market cap of $265.59 million, a price-to-earnings ratio of 15.71 and a beta of 0.75.

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 net margin of 9.52% and a return on equity of 4.74%.

Institutional Trading of First of Long Island

A number of hedge funds have recently made changes to their positions in FLIC. Wellington Management Group LLP bought a new stake in shares of First of Long Island during the 3rd quarter worth $5,407,000. ABC Arbitrage SA bought a new stake in shares of First of Long Island during the 4th quarter worth $4,545,000. Segall Bryant & Hamill LLC bought a new stake in shares of First of Long Island during the 4th quarter worth $1,856,000. Credit Industriel ET Commercial bought a new stake in shares of First of Long Island during the 4th quarter worth $1,180,000. Finally, Millennium Management LLC lifted its holdings in shares of First of Long Island by 79.9% during the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after acquiring an additional 68,807 shares during the last quarter. 48.33% of the stock is owned by institutional investors.

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.