First of Long Island (NASDAQ:FLIC) Upgraded by Keefe, Bruyette & Woods to Outperform Rating

First of Long Island (NASDAQ:FLIC) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, MarketBeat reports. The brokerage presently has a $16.56 target price on the bank’s stock, up from their prior target price of $16.04. Keefe, Bruyette & Woods’ price target points to a potential upside of 34.74% from the company’s previous close.

Separately, StockNews.com initiated coverage on shares of First of Long Island in a report on Friday, March 28th. They set a “hold” rating for the company.

First of Long Island Stock Performance

Shares of First of Long Island stock opened at $12.29 on Tuesday. The business’s 50 day moving average price is $12.72 and its 200 day moving average price is $12.91. The company has a market cap of $278.18 million, a price-to-earnings ratio of 16.39 and a beta of 0.75. 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.

First of Long Island (NASDAQ:FLIC) last posted its quarterly earnings results 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 return on equity of 4.74% and a net margin of 9.52%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLIC. FMR LLC raised its stake 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 valued at $45,000 after acquiring an additional 1,950 shares during the period. Janney Montgomery Scott LLC acquired a new stake in First of Long Island in the 4th quarter valued at approximately $126,000. Wealth Enhancement Advisory Services LLC purchased a new stake in First of Long Island in the fourth quarter valued at approximately $126,000. Algert Global LLC acquired a new position in First of Long Island during the fourth quarter worth $134,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of First of Long Island during the fourth quarter worth $136,000. Hedge funds and other institutional investors 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.