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

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

First of Long Island Trading Down 0.6 %

Shares of NASDAQ:FLIC opened at $11.85 on Tuesday. 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 quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.15. The company has a market cap of $267.10 million, a PE ratio of 13.47 and a beta of 0.71. The company’s 50-day moving average price is $13.36 and its 200 day moving average price is $12.61.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of First of Long Island by 1.7% during the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock valued at $6,079,000 after purchasing an additional 10,400 shares in the last quarter. State Street Corp raised its holdings in First of Long Island by 3.4% during the third quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after purchasing an additional 16,456 shares in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 14,736 shares during the period. AQR Capital Management LLC grew its stake in shares of First of Long Island by 272.6% in the 2nd 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 last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of First of Long Island during the 3rd quarter valued at $5,407,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

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.