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

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

First of Long Island Stock Performance

NASDAQ FLIC opened at $12.40 on Friday. The business’s 50 day moving average price is $13.63 and its 200-day moving average price is $12.41. First of Long Island has a fifty-two week low of $9.30 and a fifty-two week high of $15.03. The company has a market cap of $279.55 million, a P/E ratio of 14.09 and a beta of 0.71. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.98 and a current ratio of 0.98.

Institutional Trading of First of Long Island

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of First of Long Island during the third quarter valued at approximately $5,407,000. AQR Capital Management LLC increased 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 during the period. American Century Companies Inc. lifted its position in shares of First of Long Island by 17.3% during the second quarter. American Century Companies Inc. now owns 351,452 shares of the bank’s stock worth $3,522,000 after purchasing an additional 51,792 shares during the last quarter. Barclays PLC lifted its holdings in First of Long Island by 73.1% during the 3rd quarter. Barclays PLC now owns 57,758 shares of the bank’s stock valued at $743,000 after buying an additional 24,399 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in First of Long Island in the 2nd quarter valued at about $230,000. 48.33% of the stock is owned by hedge funds and other institutional investors.

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.