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

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

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

First of Long Island Stock Down 2.2 %

First of Long Island stock opened at $13.42 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $302.16 million, a price-to-earnings ratio of 12.43 and a beta of 0.69. First of Long Island has a 1-year low of $9.30 and a 1-year high of $13.95. The business has a fifty day moving average price of $12.75 and a 200-day moving average price of $11.35.

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

Insider Buying and Selling

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 stock was 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 approximately $43,853.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First of Long Island

A number of institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of First of Long Island by 87.8% during the 3rd quarter. CWM LLC now owns 14,668 shares of the bank’s stock valued at $189,000 after buying an additional 6,856 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of First of Long Island during the 3rd quarter valued at about $118,000. AQR Capital Management LLC grew its position in shares of First of Long Island by 272.6% during the 2nd quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock valued at $4,397,000 after acquiring an additional 321,032 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of First of Long Island during the 2nd quarter valued at about $230,000. Finally, Marshall Wace LLP acquired a new stake in shares of First of Long Island during the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 48.33% of the company’s stock.

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.