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

Equities research analysts at StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the bank’s stock.

First of Long Island Price Performance

FLIC stock opened at $14.47 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.98 and a quick ratio of 0.98. First of Long Island has a 1 year low of $9.30 and a 1 year high of $15.03. The firm has a 50-day moving average of $13.39 and a 200 day moving average of $12.03. The company has a market cap of $326.21 million, a P/E ratio of 16.44 and a beta of 0.68.

Insider Activity at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated Thursday, September 5th. The shares were 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 of the company’s stock, valued at $43,853.10. This trade represents a 97.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First of Long Island

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of First of Long Island by 124.0% in the 3rd quarter. FMR LLC now owns 3,522 shares of the bank’s stock worth $45,000 after purchasing an additional 1,950 shares in the last quarter. CWM LLC raised its stake in First of Long Island by 292.0% during the second quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after buying an additional 5,819 shares during the last quarter. SG Americas Securities LLC bought a new stake in First of Long Island in the third quarter worth $118,000. Evoke Wealth LLC bought a new stake in First of Long Island in the second quarter worth $103,000. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of First of Long Island by 32.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,546 shares of the bank’s stock worth $161,000 after acquiring an additional 3,570 shares during the last quarter. Hedge funds and other institutional investors 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.