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

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

First of Long Island Price Performance

Shares of FLIC opened at $11.52 on Wednesday. The company has a market cap of $259.71 million, a price-to-earnings ratio of 13.09 and a beta of 0.74. The company’s fifty day simple moving average is $13.20 and its 200 day simple moving average is $12.67. First of Long Island has a 1-year low of $9.30 and a 1-year high of $15.03. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.15.

Institutional Investors Weigh In On First of Long Island

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in First of Long Island by 1.7% during the second quarter. Renaissance Technologies LLC now owns 606,650 shares of the bank’s stock worth $6,079,000 after purchasing an additional 10,400 shares during the period. State Street Corp raised its holdings in shares of First of Long Island by 3.4% during the 3rd quarter. State Street Corp now owns 505,758 shares of the bank’s stock worth $6,509,000 after buying an additional 16,456 shares in the last quarter. Geode Capital Management LLC raised its stake in First of Long Island by 3.0% during the third quarter. Geode Capital Management LLC now owns 500,881 shares of the bank’s stock worth $6,447,000 after acquiring an additional 14,736 shares in the last quarter. AQR Capital Management LLC increased its position in 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 worth $4,397,000 after purchasing an additional 321,032 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of First of Long Island during the third quarter worth $5,407,000. Institutional investors 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.