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

Analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Stock Up 1.5 %

Shares of First of Long Island stock opened at $12.40 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $279.55 million, a price-to-earnings ratio of 14.09 and a beta of 0.71. The firm’s 50-day moving average is $13.63 and its two-hundred day moving average is $12.41. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03.

Hedge Funds Weigh In On First of Long Island

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLIC. American Century Companies Inc. boosted its position in shares of 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 worth $3,522,000 after purchasing an additional 51,792 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of First of Long Island by 272.6% during the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of First of Long Island in the 3rd quarter valued at approximately $5,407,000. Sei Investments Co. boosted its stake in First of Long Island by 13.0% in the 2nd quarter. Sei Investments Co. now owns 21,669 shares of the bank’s stock worth $217,000 after purchasing an additional 2,500 shares in the last quarter. Finally, CWM LLC grew its position in First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock worth $189,000 after purchasing an additional 6,856 shares during the last quarter. Hedge funds and other institutional investors own 48.33% of the company’s stock.

First of Long Island Company Profile

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.