First of Long Island (NASDAQ:FLIC) Earns Hold Rating from Analysts at StockNews.com

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

Separately, Keefe, Bruyette & Woods raised shares of First of Long Island from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $16.04 to $16.56 in a research report on Tuesday, April 1st.

First of Long Island Trading Down 1.3 %

NASDAQ:FLIC opened at $11.93 on Wednesday. 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 has a twelve month low of $9.30 and a twelve month high of $15.03. The business has a 50 day moving average price of $11.74 and a two-hundred day moving average price of $12.59. The company has a market cap of $270.04 million, a P/E ratio of 15.91 and a beta of 0.85.

First of Long Island (NASDAQ:FLIC) last released its quarterly earnings data on Wednesday, April 30th. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $21.54 million during the quarter, compared to analyst estimates of $21.89 million. 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

Hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its position in First of Long Island by 73.1% in the third quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after buying an additional 24,399 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of First of Long Island by 28.4% during the 4th quarter. SG Americas Securities LLC now owns 11,813 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,614 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of First of Long Island during the 4th quarter valued at $126,000. Empowered Funds LLC grew its position in First of Long Island by 5.0% during the 4th quarter. Empowered Funds LLC now owns 60,924 shares of the bank’s stock worth $712,000 after acquiring an additional 2,876 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in First of Long Island in the 4th quarter worth about $4,545,000. 48.33% of the stock is currently owned by institutional investors and hedge funds.

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.