First of Long Island (NASDAQ:FLIC) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods increased 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 Price Performance

Shares of First of Long Island stock opened at $13.04 on Friday. The stock has a market capitalization of $293.61 million, a price-to-earnings ratio of 12.07 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.97 and a current ratio of 0.97. The company has a fifty day moving average of $12.55 and a 200-day moving average of $11.24. First of Long Island has a 52-week low of $9.30 and a 52-week high of $13.95.

First of Long Island (NASDAQ:FLIC) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $45.41 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.31 EPS.

Insider Transactions at First of Long Island

In other news, Director John Abbott Root Cooper sold 166,633 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $12.70, for a total value of $2,116,239.10. Following the completion of the sale, the director now directly owns 3,453 shares of the company’s stock, valued at approximately $43,853.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.33% of the company’s stock.

Institutional Investors Weigh In On First of Long Island

Several institutional investors and hedge funds have recently modified their holdings of FLIC. Quadrature Capital Ltd bought a new position in shares of First of Long Island in the 4th quarter worth about $144,000. Webster Bank N. A. bought a new position in shares of First of Long Island in the 1st quarter worth about $28,000. BNP Paribas Financial Markets increased its stake in shares of First of Long Island by 57.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,762 shares of the bank’s stock worth $241,000 after acquiring an additional 7,927 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of First of Long Island in the 1st quarter worth about $132,000. Finally, John G Ullman & Associates Inc. bought a new position in shares of First of Long Island in the 1st quarter worth about $226,000. 48.33% of the stock is owned by hedge funds and other 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.