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

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

First of Long Island Stock Performance

Shares of FLIC opened at $11.87 on Monday. The firm has a market cap of $267.60 million, a P/E ratio of 13.49 and a beta of 0.71. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50 day moving average price is $13.49 and its two-hundred day moving average price is $12.50.

Institutional Trading of First of Long Island

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of First of Long Island by 1.7% during the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after buying an additional 10,400 shares in the last quarter. State Street Corp grew its stake in shares of First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after acquiring an additional 16,456 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of First of Long Island by 3.0% in the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock valued at $6,447,000 after purchasing an additional 14,736 shares during the last quarter. AQR Capital Management LLC boosted its holdings in 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 worth $4,397,000 after purchasing an additional 321,032 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in First of Long Island during the third quarter worth $5,407,000. Institutional investors and hedge funds 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.