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

Investment analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a report issued on Thursday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

First of Long Island stock opened at $12.39 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. First of Long Island has a 12-month low of $9.30 and a 12-month high of $15.03. The stock has a market cap of $280.45 million, a price-to-earnings ratio of 16.52 and a beta of 0.75. The business’s 50-day simple moving average is $12.57 and its 200 day simple moving average is $12.94.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.10). First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after acquiring an additional 1,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in First of Long Island in the 4th quarter valued at $126,000. Janney Montgomery Scott LLC acquired a new position in First of Long Island in the 4th quarter valued at $126,000. Algert Global LLC acquired a new position in First of Long Island in the 4th quarter valued at $134,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in First of Long Island in the 4th quarter valued at $136,000. Institutional investors 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.