First of Long Island (NASDAQ:FLIC) Upgraded at StockNews.com

First of Long Island (NASDAQ:FLIC) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

First of Long Island Price Performance

Shares of NASDAQ:FLIC opened at $9.63 on Wednesday. First of Long Island has a one year low of $9.30 and a one year high of $14.26. The company has a market cap of $216.87 million, a price-to-earnings ratio of 8.92 and a beta of 0.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $10.11 and a 200 day simple moving average of $11.26.

First of Long Island (NASDAQ:FLIC) last posted its earnings results on Friday, April 26th. The bank reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The business had revenue of $44.27 million for the quarter, compared to the consensus estimate of $22.50 million. First of Long Island had a return on equity of 6.54% and a net margin of 14.14%. During the same period in the previous year, the firm earned $0.29 earnings per share. Research analysts predict that First of Long Island will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of First of Long Island

Several institutional investors have recently added to or reduced their stakes in FLIC. Webster Bank N. A. acquired a new position in shares of First of Long Island during the 1st quarter valued at $28,000. EntryPoint Capital LLC bought a new stake in First of Long Island in the 1st quarter valued at about $42,000. Hillsdale Investment Management Inc. bought a new position in First of Long Island in the first quarter worth approximately $105,000. J.W. Cole Advisors Inc. acquired a new stake in First of Long Island in the fourth quarter valued at approximately $134,000. Finally, Quadrature Capital Ltd acquired a new stake in First of Long Island in the fourth quarter valued at approximately $144,000. 48.33% of the stock is currently owned by institutional investors.

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.