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

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

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

First of Long Island Price Performance

First of Long Island stock traded down $0.33 during mid-day trading on Monday, hitting $11.30. 8,385 shares of the company traded hands, compared to its average volume of 106,196. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. First of Long Island has a one year low of $9.30 and a one year high of $15.03. The stock has a market cap of $255.66 million, a price-to-earnings ratio of 15.05 and a beta of 0.69. The stock has a fifty day moving average price of $12.01 and a 200-day moving average price of $12.69.

First of Long Island (NASDAQ:FLIC - Get Free Report) last released its earnings results on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.10). First of Long Island had a net margin of 9.52% and a return on equity of 4.74%.

Hedge Funds Weigh In On First of Long Island

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in First of Long Island by 2,711.4% during the 1st quarter. GAMMA Investing LLC now owns 2,952 shares of the bank's stock valued at $36,000 after purchasing an additional 2,847 shares during the last quarter. FMR LLC increased its position in First of Long Island by 124.0% during the 3rd quarter. FMR LLC now owns 3,522 shares of the bank's stock valued at $45,000 after purchasing an additional 1,950 shares during the period. Janney Montgomery Scott LLC bought a new position in First of Long Island in the 4th quarter worth $126,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of First of Long Island in the 4th quarter worth about $126,000. Finally, Algert Global LLC bought a new stake in shares of First of Long Island during the 4th quarter valued at about $134,000. 48.33% of the stock is owned by 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.