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

Equities research analysts at StockNews.com assumed coverage on shares of First of Long Island (NASDAQ:FLIC) in a report released on Friday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Trading Up 0.2 %

NASDAQ FLIC opened at $12.51 on Friday. The firm has a market capitalization of $283.16 million, a PE ratio of 16.68 and a beta of 0.75. The stock’s 50 day moving average is $12.68 and its 200 day moving average is $12.91. First of Long Island has a twelve month low of $9.30 and a twelve month high of $15.03. 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 (NASDAQ:FLIC) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.14 EPS for the quarter, missing the consensus estimate 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 Trading of First of Long Island

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of First of Long Island by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,154,523 shares of the bank’s stock worth $13,485,000 after purchasing an additional 55,710 shares in the last quarter. Wellington Management Group LLP increased its holdings in First of Long Island by 50.5% in the 4th quarter. Wellington Management Group LLP now owns 632,365 shares of the bank’s stock worth $7,386,000 after buying an additional 212,216 shares in the last quarter. Renaissance Technologies LLC raised its position in First of Long Island by 3.6% in the 4th quarter. Renaissance Technologies LLC now owns 616,050 shares of the bank’s stock worth $7,195,000 after buying an additional 21,200 shares during the last quarter. State Street Corp lifted its stake in First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after acquiring an additional 16,456 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of First of Long Island by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 504,859 shares of the bank’s stock valued at $5,898,000 after acquiring an additional 3,978 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.