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 research note issued on Tuesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods lifted their price target on shares of First of Long Island from $11.00 to $13.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

First of Long Island Stock Up 1.7 %

FLIC opened at $13.12 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. First of Long Island has a 12 month low of $9.30 and a 12 month high of $13.95. The stock has a market capitalization of $295.41 million, a P/E ratio of 12.15 and a beta of 0.69. The business has a 50 day simple moving average of $12.36 and a 200-day simple moving average of $11.02.

First of Long Island (NASDAQ:FLIC) last issued its earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The company had revenue of $45.41 million for the quarter, compared to analyst estimates of $20.90 million. First of Long Island had a net margin of 12.58% and a return on equity of 5.93%. During the same period in the previous year, the firm earned $0.31 EPS.

Insider Activity at First of Long Island

In other First of Long Island news, Director John Abbott Root Cooper sold 166,633 shares of First of Long Island stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the transaction, the director now owns 3,453 shares in the company, valued at $43,853.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First of Long Island

A number of large investors have recently bought and sold shares of the stock. Webster Bank N. A. purchased a new stake in shares of First of Long Island during the first quarter worth about $28,000. EntryPoint Capital LLC purchased a new stake in First of Long Island in the 1st quarter worth approximately $42,000. CWM LLC raised its holdings in First of Long Island by 292.0% in the 2nd quarter. CWM LLC now owns 7,812 shares of the bank’s stock valued at $78,000 after acquiring an additional 5,819 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of First of Long Island during the 2nd quarter worth $103,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of First of Long Island during the first quarter worth $105,000. Institutional investors and hedge funds 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.