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

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

Separately, Keefe, Bruyette & Woods boosted their price target on First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

First of Long Island Price Performance

NASDAQ FLIC opened at $12.81 on Wednesday. The stock has a market cap of $288.43 million, a price-to-earnings ratio of 11.86 and a beta of 0.69. First of Long Island has a 12 month low of $9.30 and a 12 month high of $13.95. The company’s 50 day moving average is $12.51 and its two-hundred day moving average is $11.08. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.14.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $45.41 million during the quarter, compared to the consensus estimate of $20.90 million. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. During the same quarter in the prior year, the firm posted $0.31 EPS.

Insider Activity at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the sale, the director now directly owns 3,453 shares of the company’s stock, valued at $43,853.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First of Long Island

Hedge funds and other institutional investors have recently made changes to their positions in the company. Webster Bank N. A. bought a new position in First of Long Island during the 1st quarter valued at about $28,000. EntryPoint Capital LLC purchased a new stake in shares of First of Long Island in the first quarter worth approximately $42,000. CWM LLC lifted its stake in shares of First of Long Island by 292.0% during the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock worth $78,000 after acquiring an additional 5,819 shares during the last quarter. Evoke Wealth LLC purchased a new position in First of Long Island during the 2nd quarter valued at $103,000. Finally, Hillsdale Investment Management Inc. bought a new position in First of Long Island in the 1st quarter valued at $105,000. Hedge funds and other 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.