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

Equities research analysts at StockNews.com began coverage on shares of First of Long Island (NASDAQ:FLIC - Get Free Report) in a report released on Tuesday. The firm set a "hold" rating on the bank's stock.

Separately, Keefe, Bruyette & Woods raised First of Long Island from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $16.04 to $16.56 in a research note on Tuesday, April 1st.

First of Long Island Price Performance

Shares of First of Long Island stock traded up $0.48 during trading on Tuesday, reaching $12.13. The company's stock had a trading volume of 215,281 shares, compared to its average volume of 105,323. The business has a 50 day moving average price of $11.78 and a 200-day moving average price of $12.61. The company has a market capitalization of $274.56 million, a P/E ratio of 16.17 and a beta of 0.69. 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.

First of Long Island (NASDAQ:FLIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The bank reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). The company had revenue of $21.54 million for the quarter, compared to analyst estimates of $21.89 million. First of Long Island had a return on equity of 4.74% and a net margin of 9.52%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barclays PLC grew its holdings in First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank's stock valued at $743,000 after buying an additional 24,399 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of First of Long Island by 3.0% during the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank's stock valued at $6,447,000 after acquiring an additional 14,736 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of First of Long Island by 28.4% during the fourth quarter. SG Americas Securities LLC now owns 11,813 shares of the bank's stock valued at $138,000 after acquiring an additional 2,614 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in First of Long Island during the 4th quarter worth about $126,000. Finally, Empowered Funds LLC raised its stake in First of Long Island by 5.0% in the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank's stock valued at $712,000 after purchasing an additional 2,876 shares during the last quarter. 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.