First of Long Island (NASDAQ:FLIC) Now Covered by Analysts at StockNews.com

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

First of Long Island Price Performance

Shares of NASDAQ FLIC opened at $12.07 on Thursday. The firm’s 50 day simple moving average is $12.62 and its 200-day simple moving average is $12.92. First of Long Island has a 12 month low of $9.30 and a 12 month high of $15.03. The stock has a market capitalization of $273.20 million, a price-to-earnings ratio of 16.09 and a beta of 0.75. 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 (NASDAQ:FLIC) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.14 earnings per share (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%.

Institutional Investors Weigh In On First of Long Island

A number of institutional investors have recently added to or reduced their stakes in FLIC. Wellington Management Group LLP acquired a new stake in First of Long Island during the 3rd quarter worth $5,407,000. ABC Arbitrage SA acquired a new stake in First of Long Island during the 4th quarter worth $4,545,000. Segall Bryant & Hamill LLC acquired a new stake in First of Long Island during the 4th quarter worth $1,856,000. Credit Industriel ET Commercial acquired a new stake in First of Long Island during the 4th quarter worth $1,180,000. Finally, Millennium Management LLC boosted its stake in First of Long Island by 79.9% during the 4th quarter. Millennium Management LLC now owns 154,915 shares of the bank’s stock worth $1,809,000 after purchasing an additional 68,807 shares during the last quarter. Institutional investors and hedge funds 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.