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

Investment analysts at StockNews.com initiated coverage on shares of First of Long Island (NASDAQ:FLIC) in a research note issued on Friday. The firm set a “hold” rating on the bank’s stock.

First of Long Island Stock Down 1.8 %

Shares of FLIC opened at $14.24 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The business has a fifty day moving average of $13.51 and a 200 day moving average of $12.14. The company has a market cap of $320.97 million, a PE ratio of 16.18 and a beta of 0.71. First of Long Island has a 52-week low of $9.30 and a 52-week high of $15.03.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in First of Long Island by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,144,181 shares of the bank’s stock worth $12,689,000 after purchasing an additional 8,109 shares during the period. Renaissance Technologies LLC grew its stake in First of Long Island by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after acquiring an additional 10,400 shares in the last quarter. State Street Corp grew its stake in First of Long Island by 3.4% in the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after acquiring an additional 16,456 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 period. Finally, AQR Capital Management LLC grew its stake in First of Long Island by 272.6% in the second quarter. AQR Capital Management LLC now owns 438,812 shares of the bank’s stock worth $4,397,000 after purchasing an additional 321,032 shares in the last quarter. 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.