First of Long Island (NASDAQ:FLIC) Now Covered by Analysts 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 Thursday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Stock Down 0.5 %

FLIC opened at $14.64 on Thursday. The business’s fifty day moving average is $13.31 and its two-hundred day moving average is $11.97. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $329.99 million, a price-to-earnings ratio of 16.64 and a beta of 0.68. First of Long Island has a one year low of $9.30 and a one year high of $15.03.

Insider Activity

In other news, Director John Abbott Root Cooper sold 166,633 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total value of $2,116,239.10. Following the sale, the director now directly owns 3,453 shares in the company, valued at $43,853.10. This represents a 97.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On First of Long Island

Several institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake 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 purchasing an additional 24,399 shares during the last quarter. Geode Capital Management LLC increased its stake in First of Long Island by 3.0% in the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock valued at $6,447,000 after purchasing an additional 14,736 shares during the last quarter. Wellington Management Group LLP acquired a new position in First of Long Island in the third quarter valued at $5,407,000. State Street Corp increased its stake in First of Long Island by 3.4% in the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock valued at $6,509,000 after purchasing an additional 16,456 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in First of Long Island by 8.9% in the third quarter. Stifel Financial Corp now owns 57,933 shares of the bank’s stock valued at $746,000 after purchasing an additional 4,716 shares during the last quarter. 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.