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

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

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

First of Long Island Stock Up 0.3 %

NASDAQ:FLIC opened at $12.72 on Thursday. First of Long Island has a 1 year low of $9.30 and a 1 year high of $13.95. The stock has a 50-day moving average price of $12.56 and a two-hundred day moving average price of $11.14. The stock has a market cap of $286.40 million, a price-to-earnings ratio of 11.78 and a beta of 0.69. 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 quarterly earnings data on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $45.41 million during the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. During the same period in the previous year, the firm earned $0.31 EPS.

Insider Activity

In related news, Director John Abbott Root Cooper sold 166,633 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,453 shares in the company, valued at $43,853.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FLIC. American Century Companies Inc. increased its stake in First of Long Island by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock valued at $3,522,000 after buying an additional 51,792 shares during the last quarter. ProShare Advisors LLC raised its holdings in First of Long Island by 8.2% during the first quarter. ProShare Advisors LLC now owns 687,077 shares of the bank’s stock worth $7,620,000 after acquiring an additional 51,872 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in First of Long Island by 32.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock valued at $161,000 after purchasing an additional 3,570 shares during the last quarter. Vanguard Group Inc. boosted its position in First of Long Island by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock valued at $12,689,000 after purchasing an additional 8,109 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in First of Long Island by 8.1% in the first quarter. Empowered Funds LLC now owns 51,140 shares of the bank’s stock valued at $567,000 after purchasing an additional 3,850 shares in the last quarter. 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.