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

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

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

First of Long Island Price Performance

FLIC stock opened at $12.91 on Monday. The business’s fifty day moving average price is $12.86 and its 200 day moving average price is $11.56. First of Long Island has a 12-month low of $9.30 and a 12-month high of $13.95. The company has a market capitalization of $290.99 million, a PE ratio of 14.67 and a beta of 0.68. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

Insider Buying and Selling

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the transaction, the director now directly owns 3,453 shares in the company, valued at approximately $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in First of Long Island during the first quarter worth $42,000. CWM LLC grew its stake in First of Long Island by 292.0% in 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 period. SG Americas Securities LLC acquired a new position in First of Long Island in the third quarter valued at $118,000. Hillsdale Investment Management Inc. acquired a new position in shares of First of Long Island during the 1st quarter valued at about $105,000. Finally, Evoke Wealth LLC acquired a new position in First of Long Island during the second quarter worth approximately $103,000. 48.33% of the stock is owned by hedge funds and other 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.